The August 15 meeting in Alaska between former US President Donald Trump and Russian President Vladimir Putin is expected to be brief due to logistical and security factors.

However, this meeting could shape a new direction for Russia-Ukraine peace negotiation efforts, as well as US-Russia bilateral relations, with economic cooperation proposals that Trump might put on the table to persuade Putin.

The Telegraph, citing sources within the US government, reports that Trump may offer to cooperate with Russia in mining rare earth minerals, including lithium, in Russian-controlled areas of Ukraine.

Ukraine is believed to hold about 10% of the world's lithium reserves, a key material in battery production. Two of the largest mines for this mineral are located in Russian-controlled eastern Ukraine. Former US Treasury Secretary Scott Bessent is described as playing a key role in preparing economic cooperation proposals with Moscow, considering the possibility of establishing joint mining projects.

Location of mineral resources in Ukraine. The red area is under Russian control. Graphics: United Media 24

In addition, Trump might offer Russia access to Alaska's natural resources and lift some sanctions on the Russian aviation industry, including the ban on exporting components and equipment needed for aircraft maintenance.

Since Russia's 2022 invasion of Ukraine, the West has restricted the supply of spare parts, causing many Russian airliners to deteriorate. Rostec CEO Sergei Chemezov warned that up to 30% of aircraft purchased by Russia from the West may be unusable within five years without spare parts.

The decision to partially lift sanctions on Russia could also greatly benefit the US aviation industry. Russia owns over 700 Western-made aircraft, mostly produced by Airbus and Boeing. If Washington eases sanctions, Moscow could continue to purchase parts and services from US suppliers, providing financial benefits to the US.

Trump is also considering giving Russia access to natural resources in the Bering Strait, an area rich in oil and gas potential but currently undeveloped.

The strait, less than 5 km from Russia, is estimated to hold about 13% of the world's oil reserves. This area is also strategically important for Russia's presence in the Arctic, which has large natural gas reserves.

Former US President Donald Trump in Allentown, Pennsylvania on 3/8. Photo: AP

The US Treasury temporarily eased some sanctions on Russia for the Alaska meeting. On 14/8, Washington issued a "general license" allowing US businesses to conduct transactions related to Putin's visit to Alaska, including logistical services for Russian aircraft landing in the US.

UK government sources say Europe would support US economic incentives for Russia, as long as they don't create the impression of a "reward" for Moscow after over three years of war.

Western countries are also studying a proposal to apply a model similar to Israel's control of the West Bank: Russia would maintain military and economic control in the territories it currently occupies, but under a separate administrative authority. This idea has been repeatedly mentioned in meetings between Steve Witkoff, Trump's special envoy, and Kremlin advisors.

Former Treasury Secretary Scott Bessent said Trump would make it clear to Putin that "all options are on the table" during the discussion.

In addition to economic proposals, Trump is leaving open the possibility of imposing further sanctions if Russia refuses a ceasefire agreement. Bessent added that Europe needs to join Washington in maintaining some sanctions on Moscow to "create more leverage".

Despite the preparations to welcome Putin, the White House describes the meeting as primarily to "listen" and assess the Kremlin before Trump considers a trilateral meeting with both Putin and Ukrainian President Volodymyr Zelensky.

Thanh Danh (Telegraph, Ukrainska Pravda, Kyiv Post, TASS)