Ukrainian President Volodymyr Zelenskyy will meet with U.S. Vice President JD Vance at the Munich Security Conference following his confirmation of willingness to negotiate a deal with President Donald Trump. In a Reuters interview, Zelenskyy proposed supplying the U.S. with rare-earth minerals in exchange for continued American support in the war against Russia.

Zelenskyy stated, “If we are talking about a deal, then let’s do a deal, we are only for it.”

He also expressed openness to peace talks with Russia, although the terms for a peace agreement remain uncertain. Zelenskyy seeks security guarantees for Ukraine, recognizing that past agreements, such as the 1994 Budapest Memorandum, have been violated by Russia.

This memorandum saw Ukraine relinquish its nuclear arsenal in exchange for sovereignty guarantees from Russia, the U.S., and the U.K., an agreement Russia disregarded through multiple invasions.

Zelenskyy reportedly first suggested the rare-earth mineral exchange—approximately 20% of which are located in Russian-controlled territory—as part of a “victory plan” presented to Western allies last autumn.

These materials are crucial for electronics and electric engines, and Zelenskyy expressed concern that Russia could supply them to allies like North Korea and Iran, the latter of which recently faced intensified U.S. sanctions.

“We need to stop Putin and protect what we have – a very rich Dnipro region, central Ukraine,” Zelenskyy reportedly said.

While Trump won’t attend the Munich conference, Zelenskyy will meet with Vance and Lt. Gen. Keith Kellogg. Trump indicated that Zelenskyy might visit Washington D.C. after the conference (February 14-16) for further discussions.

“I’d like to see that war end,” Trump stated. “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earth and other things.”

Fighting continues in eastern Ukraine, with Russia claiming the capture of Toretsk. Kyiv is simultaneously launching offensives, including one in Russia’s Kursk region, which began in August 2024, potentially aiming for a stronger negotiating position.

Zelenskyy announced a new offensive in the Kursk region, stating, “In the areas of the Kursk operation, new assaults have taken place,” adding that Russia deployed North Korean soldiers alongside its own troops.

The extent of North Korean troop deployment remains unclear, although South Korean intelligence suggests further deployments are planned. Zelenskyy reported effective Ukrainian counterattacks in Kursk, emphasizing the importance of holding positions to strengthen diplomatic efforts.

“We must hold all our positions firmly,” he said. “The stronger we stand on the front lines, the stronger our diplomacy – our work with partners – will be.”