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Putin Direct
@PutinDirect

Putin: Rebuilding trust between Russia and the U.S. is the first essential step to resolving the Ukraine crisis.
February 24, 2025
Answers to questions from journalist Pavel Zarubin TRANSCRIPT: http://en.kremlin.ru/events/president/news/76331

Pavel Zarubin: Mr President, we have just watched your meeting on rare-earth metals. Forgive me, but I believe that right now, all journalists around the world are interested in rare-earth metals, although in a slightly different context. The United States, and I will put it mildly, is strongly urging Zelensky to sign an agreement with the US regarding these resources as payment for the aid Ukraine received from the former administration, the Biden administration. In your opinion, what are the prospects of such an agreement?
President of Russia Vladimir Putin: That has nothing to do with us. I do not have an opinion, nor do I even want to think about it. Of course, these resources should be evaluated – whether they exist, what is their amount, how much are they worth, and so on. But, again, that is not our concern.
Our concern is what we have just discussed during the meeting. Rare and rare-earth metals are crucial resources for modern industries. So far, we have not done enough in this area, and we need to do more. The purpose of the meeting today was to direct administrative resources to developing this sector in the initial phase.
By the way, we would be open to cooperation with our American partners – and when I say “partners” I mean not only administrative and government agencies but also private companies – as long as they show interest in working together.
It is important to emphasise that Russia possesses significantly – I want to stress this – significantly larger resources of this kind than Ukraine. Russia is one of the uncontested leaders when it comes to rare and rare-earth metal reserves. We have deposits in the north, in Murmansk, and in the Caucasus, in Kabardino-Balkaria, as well as in the Far East, in the Irkutsk Region, in Yakutia and Tuva. Developing these resources requires substantial capital investment. We would be happy to cooperate with any foreign partners, including American companies.
The same is true for the new territories: we are open to foreign partnerships. Our historical territories that have become part of the Russian Federation again also hold certain reserves. We are ready to work there with international partners, including Americans.
Pavel Zarubin: In the new regions too?
Vladimir Putin: Yes, of course.
Pavel Zarubin: We are seeing an avalanche of statements and debates these days, with everyone discussing Trump and why he is so adamant that Zelensky must hold elections and that his approval rating is just at four percent. There has been a lot of criticism among the Europeans regarding Trump’s statements. Some even believe that the current stance of the US President is actually playing into Russia’s hands. Do you believe this is actually the case?
Vladimir Putin: I think this is absolutely not the case. I have my own point of view on that and it runs counter to what you have just said.
In fact, the person who currently stands at the helm of the Kiev regime is becoming a toxic figure for the Ukrainian armed forces. He issues clumsy, poorly thought-out orders guided by a political agenda instead of military imperatives, and it is unclear where they are coming from. This results in huge losses for the Ukrainian army that cannot be justified, or should I say, to major or catastrophic losses. He is also becoming increasingly toxic for society in general. Today’s vote in the Rada on extending his powers proves this point, as far as I can judge.
Finally, he has boxed himself into a corner by signing an order banning peace treaty talks with the Russian Federation. He was the one who stopped these talks. What is this all about? What this means is that he evades talks. Why? Because once the talks begin, sooner or later, and probably quite quickly, they will bring about an end to martial law. Once this happens, he will have to hold an election. In that case, there will be no grounds for not holding an election anymore, since martial law currently serves as a pretext for not holding an election. But if you initiate the talks and they quickly bring about an end to martial law, this means that you need to hold an election right away. The current head of the regime has a problem with that.
Why? His approval rating, be it four percent or any other number, does not matter all that much. What matters is that his approval ratings – and according to the information at our disposal this is objective data – is exactly half that of his closest potential political rival. I am referring to Mr Zaluzhny, the former commander of the Ukrainian Armed Forces who was sent, or should I say exiled, to London. His approval rating is twice as high as that of the current regime leader.
Once we consider the possibility that other political leaders, including former prime ministers and presidents, may support Zaluzhny’s possible candidacy, it becomes clear that the current regime leader will stand absolutely no chance of winning an election. His chances are zero – unless, of course, he blatantly rigs the election in one way or another, which would also be detrimental for him since everyone would be able to see through these attempts.
This is why he has become a destabilising factor for the army, society and the state. I am certain that the current US President, Mr Trump, understands this, which explains why he has been pushing the head of the Kiev regime to hold elections. As I see it, Trump’s goal is to restore political stability in Ukraine, consolidate society and enable the Ukrainian state to survive. Overall, this benefits Ukraine more than Russia, since our conflict is with the current regime, not the country itself.
All other things aside, the current [US] President has openly stated that he wants to achieve peace. By the way, this is something we want too, and the quicker this happens, the better. But the current [Ukrainian] regime leader stands in the way of achieving this goal. That, in my view, is the reasoning behind Trump’s position. It is not about advancing Russia’s interests. But it probably serves the interests of Ukraine, Ukrainian statehood and could help preserve it. We have no objection to that, even if we do not want this territory to be used as a launchpad for aggression against the Russian Federation, or as a hostile outpost targeting us. At the end of the day, we want it to evolve into a friendly neighbourly state.
Pavel Zarubin: Every day we hear many different statements from Trump. You have met with him more than once and you had a telephone conversation with him just recently. Do you think he is driven by his emotions?
Vladimir Putin: Of course not. Naturally, the current leader of the Kiev regime gives him plenty of reasons to express emotions. But based on what I have just said, a different picture emerges: his actions are not driven by emotions but rather by cold calculation and a rational assessment of the situation.
It may sound strange but frankly, in this situation, we would be interested in him staying in power and continuing to weaken the regime with which we are involved in an armed conflict. However, if the goal is to strengthen Ukrainian statehood, then a different approach is needed – bringing to power those who have the trust of the Ukrainian people.
Pavel Zarubin: In your opinion, do European leaders realise the current dynamics around Ukraine?
Vladimir Putin: You would have to ask them. But judging by their actions, I do not believe they fully grasp the situation. More importantly, unlike the US President, European political leaders are deeply entangled with the Kiev regime. They have made too many statements and promises and now, frankly speaking, it is very difficult or almost impossible for them to backtrack without losing face. Given that they are also facing internal political challenges, including elections, re-elections, parliamentary struggles, and so on, changing their stance is practically unthinkable in these circumstances.
In contrast, the newly-elected President of the United States, has far more freedom of action. He is not bound by past commitments that would prevent him from moving forward and working towards a resolution of this conflict. His direct and unrestrained approach reflects his character. He is in a unique position: not only does he say what he thinks but he says whatever he wants. And that, after all, is a privilege of a leader of a major global power.
Pavel Zarubin: Several days ago in St Petersburg, I asked you a question about everyone’s desire these days to have some kind of say in Russia-US talks, with Europeans insisting and demanding to be able to weigh in on the Ukraine talks.
What do you think about it?
Vladimir Putin: I do not think there is anything wrong with that. But no one can make demands in this situation – certainly not of Russia. Let them submit their demands and requests to someone else. In fact, they have been making demands from their vassals for thousands of years, but now they are the ones facing demands. So let them stay home and keep their demands to themselves so that they can think it over and understand how they got where they are today.
However, it is important that they take part in the negotiating process, of course. As for us, we have never turned down anyone’s requests. In fact, we kept the conversation going with them at all times. But then came a point when they came up with this far-fetched and illusionary idea of defeating Russia on the battlefield. So they were the ones who rejected all contacts with us. Should they wish to come back, we would only welcome it.
I observed the response to my telephone conversation with the US President, and I saw the response to the high-level meeting in Riyadh. It was emotional and devoid of any common sense. Why? Because in order to resolve challenging and urgent matters, including on the Ukrainian track, Russia and the United States must make the first step.
What will it be about? This first step must consist of increasing the level of trust between our two nations. This is what we focused on in Riyadh, and this will be the focus for the possible upcoming high-level contacts. Otherwise, it would be impossible to address any issues, including the Ukraine crisis with all its challenges and urgency.
But what do Europeans have to do with this? This is a matter of bilateral Russia-US relations. What role do Europeans see for themselves here? What can they contribute? Yes, the Ukraine crisis was mentioned in both the telephone conversation and at the Riyadh meeting, but without discussing its substance. All we did was agree to move in this direction. In this sense, of course, we do not deny European countries the right to be part of this process.
Let me emphasise that we also respect the position of our BRICS friends, who have established the Friends of Peace group. I talked to the President of the People’s Republic of China today, and we discussed this too. He informed me that the Friends of Peace group will hold another meeting in New York soon to discuss this agenda.
Not only do we welcome these efforts, but we are also grateful to all our partners who have been raising these issues and want to bring about a peace deal. Why am I saying this? This is not just about the Europeans – other countries also have the right to and can participate in this process, and we respect that.
Pavel Zarubin: May I ask you to comment on a few more statements made by President Trump, which, as I mentioned earlier, are many.
Vladimir Putin: Not all of them, alright?
Pavel Zarubin: Not all. For example, he said he wanted to propose to you and the head of China to cut the defence budgets in half. What do you think about this idea?
Vladimir Putin: I am aware, or I think I know where it comes from. It is likely based on the calculations by a British think tank, which calculated our respective spending in terms of purchasing power parity. Last year, the United States had, I think, US$968 billion, and if you put Russia and China’s spending together, it will roughly add up to the same amount. Russia’s and China’s spending combined add up to what the United States is spending.
First, we need to run the numbers. The British calculations may be correct, or may be not too correct, or not correct at all. They need to be looked at closely. This is my first point.
Second, I am not in a position to comment on how the People’s Republic of China would feel about this. The US side tried different approaches regarding strategic offensive weapons and other critical matters. So, this is a matter for the People’s Republic of China to decide on. However, we could come to an agreement with the United States, we are not against it. I think this is a good idea: the United States would cut their spending by 50 percent, and we would cut ours by 50 percent. The People’s Republic of China could then join in if it wants to. We think this is a good proposal, and we are open to discussing it.
Pavel Zarubin: President Trump also imposed 25-percent tariffs on aluminium and steel imports from all countries without exception. Our aluminium business with the United States used to be quite extensive. What do you think of this trade policy?
Vladimir Putin: I am not going to comment on the US trade policy, since it has been driven by sanctions for many years now. We believe sanctions are illegal and harm global trade and economy. I believe sanctions are bad for us and those who impose them.
With regard to trade policy, higher rates, tariffs and so on, each country decides for itself what is good for it and what is not. I can understand the logic behind it. They want to bring the manufacturers into the country, to create new jobs, and to have them pay taxes to all levels of the taxation system, and so on. Without a doubt, at some point, these actions will run into certain difficulties caused by inflationary pressure, higher costs of goods, and so on. Experts are well aware of this, and they can provide every detail of how it works.
As regards aluminium, in 2017, I think, about 15 percent of US [aluminium] imports came from Russia. If memory serves, the United States produces about 60 percent of the aluminium it needs, and imports the remaining 40 percent, of which 15 percent used to come from the Russian Federation. The main importer today is Canada.
If a decision is made to open the US market to our producers, we could sell about two million tonnes on the US market, which would not drastically affect prices, but, I think, would still have a restraining influence on prices.
In addition, and what is most importantly, in my opinion, we could think about working together with US companies in this area. For example, back in Soviet times, there were plans to build a new hydroelectric power plant and to create additional aluminium production facilities in the Krasnoyarsk Territory. After all, aluminium is, first of all, about energy, preferably cheap energy. Hydropower is cheap and environmentally friendly.
To reiterate, such plans have been in place since the Soviet times. However, these are capital- and investment-intensive projects. In today's money, according to preliminary estimates, they will cost around 15 billion. We can think about it.
Indeed, the US President’s policy is to deploy production facilities in the United States. But if the US companies come to work in Russia, it will also benefit them greatly, because the companies will turn decent profit, and the corresponding amounts of aluminium will be supplied to their domestic market at absolutely acceptable market prices. There are things to ponder in this area, as well as in our potential joint work on rare and rare-earth metals and other areas, including, for example, energy.
Pavel Zarubin: I just read the latest news coming from the United States: President Trump said the United States and Russia were discussing major economic projects as part of Ukraine talks.
Vladimir Putin: Yes, some of our respective companies are in contact and are discussing such projects.
Pavel Zarubin: Thank you very much.
Vladimir Putin: Thank you.