Russian President Vladimir Putin recently offered to explore rare earth metal deposits with the US and supply aluminum to the US market, saying that Russia has greater rare earth reserves compared to Ukraine. This proposal followed US President Donald Trump’s statement about major economic transactions with Russia.

Putin said that Russian companies could supply up to 2 million tons of aluminum per year if US markets reopened, potentially restraining prices.

During a meeting on the rare earth industry, Putin outlined Russia's plans to double the output of rare earth products and establish a complete industry chain by 2030, boosting its competitiveness in global markets and supporting economic and defense industries. He also said that he was not concerned about a possible rare earth metals deal between the US and Ukraine.