The Russian President, offered the opportunity to participate in a joint exploitation of rare land deposits in the country and the supply of aluminum to the US domestic market, outlineing a future economic agreement between the two countries.
The US President had said earlier that “major economic development transactions” would be performed with. Two hours after Trump’s statement, Putin chaired a meeting with his economic ministers and advisers about rare land metals.
“We, by the way, would be ready to offer our US partners, and when I say ‘partners’, I don’t mean only to administrative and government structures, but also companies, if they showed interest in joint work,” said Putin, to the state television station after the meeting.
“We have no doubt, I want to emphasize, much more resources of this kind than,” added Putin. He mentioned that one is not a concern for Russia.
He mentioned that Russian companies can provide up to 2 million tons for the US market annually if it is reopened. Russia used to provide 15% of US aluminum imports before prohibitive tariffs applied in 2023.
“This (Russian aluminum supplies) will not significantly affect price formation. However, in my opinion, it would still have a restrictive influence on prices, ”said the Russian President.
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Putin suggested that Russia and the US could work together on hydroelectric power generation and aluminum production in the Krasnoyarsk region of Siberia, the basis of Russia’s largest aluminum producer, Rusal.
“Most importantly, in my opinion, we could consider the possibility of working together with US companies in that region,” concluded Putin.
In a transcript published by Kremlin, Putin said that rare lands are a priority sector for economic development and Russia’s competitiveness.
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According to Putin, the government sought to “boost the potential of domestic industry”, from extraction to “manufacturing high -tech products”.
“Based on the results of the national project, the volume of production of these products should increase several times,” he said.
