Russia plundering Ukraine's natural resources

The article discusses Ukraine's significant natural resources, which are a key target for Russia amid the ongoing conflict. Ukraine is rich in resources like iron ore, coal, titanium, and manganese, among others. Prior to the war, Dniprorudne, a Ukrainian city, was a major source of high-quality iron ore, with annual exports worth €200 million, mainly to Slovakia, the Czech Republic, and Austria. However, since Russian forces occupied Dniprorudne in 2022, these resources are being diverted to Russia, and foreign investments in the mining sector have been seized.

The occupation has significantly impacted Ukraine's export capabilities, with metallurgy ore exports dropping by nearly 60% in 2022. Ukraine's largest iron ore deposit, the Kryvyi Rih basin, remains under Ukrainian control, but the region is under constant shelling. This conflict has dramatically reduced Ukraine's steel production.

Around 80% of Ukraine's coal deposits, including all its anthracite, are under Russian control, forcing Ukraine to import coal at high costs due to Russian blockades of Ukrainian ports. The logistical challenges also hamper Ukraine's industrial exports, weakening its economy.

The article also highlights Russia's broader strategy of seizing control of natural resources as a foreign policy tool, evident in its activities in Africa and Ukraine. The European Union had identified Ukraine as a key source of natural resources essential for its green energy transformation, just months before Russia invaded Ukraine.

Particularly noteworthy are Ukraine's lithium reserves, crucial for batteries in electronic devices and electric vehicles. Ukraine has the potential to become a significant supplier of this and other valuable minerals like titanium, of which it already produces 7% of the world's supply. However, the war and occupation have put many of these opportunities on hold, with Russia controlling several key deposits, including two Ukrainian lithium deposits and three rare earth deposits. This control over resources extends Russia's influence and complicates the EU and NATO's efforts to counter it.