Ukraine – like Africa before it – finds itself at the centre of a grand geopolitical plunder where sovereignty is a talking point but resources are the real prize. Special Correspondent DOUGLAS RASBASH puts the reality under the microscope and finds a brutal throwback to the era of empire
During the recent highly-publicised visit of Ukraine’s President Zelensky to Washington, discussions reportedly included a minerals agreement with the US in exchange for continued aid.
Ukraine, under immense pressure to secure military and financial support, may have had little choice but to concede access to its vast deposits of lithium, titanium, and other critical minerals – resources essential to modern technology and defence industries.
This underscores a broader reality: while Russia wages war with tanks, the West secures its influence through economic deals, turning Ukraine into a battleground not just for sovereignty, but for resources. But what became obvious was that the war in Ukraine is not just a battle of armies – it is a battle of empires.
On one side, Russia wages a 21st-century imperialist war, seizing territory through brute force and historical revisionism. On the other, the United States and its allies disguise economic conquest as reconstruction and aid. Ukraine, like Africa before it, finds itself at the centre of a grand geopolitical plunder where sovereignty is a talking point but resources are the real prize.
This item cuts through the nonsensical and exposes the bitter truth that should be all too familiar to Africa.
Russia’s imperialist crusade
For Russia, the invasion of Ukraine is not merely a conflict – it is an assertion of empire. Putin’s rhetoric of reclaiming “historic Russian lands” mirrors the language of past imperial conquests where nations were swallowed under the guise of destiny and heritage. If the 2014 annexation of Crimea was just the beginning, which it was, the 2022 invasion made it clear that Russia does not see Ukraine as a real country but as a wayward province to be brought back into the fold.
But beyond the nationalist mythmaking, this war is about resources. Eastern Ukraine is rich in coal, steel and fertile land – assets that Russia desperately needs as it faces economic isolation. The systematic destruction of Ukraine’s industries is not collateral damage but a calculated effort to cripple its economy, ensuring that whatever remains is dependent on or absorbed by Moscow. Just as colonial empires extracted wealth from their conquests, Russia seeks to integrate Ukraine’s economic backbone into its own war machine.
Where past empires sailed with flags and muskets, Russia advances with tanks and missiles. Its methods are brutal, its ambitions unmistakable: to redraw borders, erase national identity, and turn Ukraine into a vassal state supplying Russia’s power structure with land, labour and resources. For Africa this is déjà vu.
The West’s Corporate Colonisation
While Russia wages a war of tanks and terror, the West wages a war of contracts and corporations. Ukraine’s suffering has become a business opportunity for American and European interests, where “aid” comes with fine print and “reconstruction” is just another word for privatisation.
Nearly a quarter of the world’s most fertile soil, known as Chernozem, is located in Ukraine. Chernozem is black soil rich in organic matter called humus, which is made up of decomposed plants. More than 65 percent of arable land in Ukraine is composed of Chernozem deposits, making it ideal for farming and producing the worlds wheat at a very low cost. This fact is not lost on Western agribusiness giants like Cargill and Monsanto, which have long eyed Ukraine’s vast farmland; and now, under wartime duress, they are securing control over millions of hectares.
The Ukrainian government, desperate for financial relief, has lifted restrictions on foreign land ownership, handing over the country’s agricultural wealth to multinational giants. Ukrainian farmers, like many before them in the developing world, are reduced to labourers on land they no longer own.
Meanwhile, energy companies and financial institutions are sinking their claws into Ukraine’s resources. BlackRock and JPMorgan Chase – firms better known for Wall Street speculation than nation-building – are “advising” Ukraine on managing its energy and infrastructure, ensuring that key sectors fall under foreign control. And let’s not forget the American liquefied natural gas (LNG) companies cashing in as Europe abandons Russian gas, turning Ukraine’s energy crisis into their windfall.
While the Trump administration may argue that it has given billions of dollars in military support and aid, the fact is that it is all tied to US companies – so the money comes bouncing back. They have not given anything at all, the war itself is fuelling Western profits. The military-industrial complex in the US is thriving, with billions in arms sales, while European governments scramble to restock their arsenals, funnelling more money into defence contractors.
Let us now look more closely at minerals. Russia and Ukraine have similar mineral resources, but their reserves and economic significance differ. Both countries are rich in iron ore, titanium, uranium, and rare earth elements (REEs), but Ukraine has some key advantages in certain rare minerals.
Comparison of Rare and Critical Minerals in Russia and Ukraine
| Mineral | Russia | Ukraine |
|---|---|---|
| Titanium | Large reserves (Murmansk, Ural) | One of the world’s largest reserves (Zhytomyr, Dnipro) |
| Uranium | 3rd largest reserves globally (Buryatia, Krasnoyarsk) | Large deposits, but lower production |
| Lithium | Some deposits (Murmansk, Irkutsk) | High-grade deposits (Donetsk, Kirovohrad) |
| Rare Earth Elements (REEs) | Large but underdeveloped (Kola Peninsula, Siberia) | High concentrations, especially zirconium & scandium |
| Graphite | Some deposits (Siberia, Ural) | Among the world’s largest reserves (Kirovohrad) |
| Zirconium | Significant reserves (Murmansk) | Rich deposits (Zhytomyr) |
| Nickel | Largest reserves globally (Norilsk, Kola) | Small deposits |
| Cobalt | Large reserves (Norilsk, Transbaikal) | Minor deposits |
| Manganese | Large reserves (Ural) | 2nd largest reserves globally (Nikopol) |
| Beryllium | Small reserves | Large reserves (Kirovohrad) |
| Tantalum & Niobium | Present but minor | Large reserves (Zhytomyr) |
Ukraine has higher-grade titanium, lithium and graphite, critical for aerospace and battery technologies. Russia dominates nickel, palladium, and platinum production, vital for electronics and catalysts. Both countries have REEs, but Russia’s are largely untapped, whereas Ukraine has notable deposits of scandium, zirconium, and tantalum.
Ukraine’s manganese and beryllium deposits are among the world’s largest while Russia has smaller amounts. Ukraine’s mineral wealth is crucial for Europe’s energy and tech industries. Russia’s dominance in nickel, PGMs, and uranium gives it leverage over global supply chains. Lithium, rare earths, and titanium from Ukraine could become essential for EV batteries, semiconductors, and defence industries in the future.
Two empires, one victim
The uncomfortable truth is that Ukraine is being pulled apart by two competing imperial ambitions. Russia seeks territorial expansion and economic subjugation through war while the West seeks economic dominance through debt, privatisation and corporate deals. One empire rules through coercion, the other through contracts, but both see Ukraine not as an independent nation but as an asset to be claimed.
If this war were truly about sovereignty or Russian security and NATO/EU expansion, Ukraine’s land and industries would not be auctioned off to the highest bidder. If this were truly about democracy, Ukraine would not be forced into economic servitude while its people bleed on the battlefield. The West and Russia may fight over control, but in the end, Ukraine risks becoming another victim of empire – conquered not just by force but by finance.
History is repeating itself. And just as Africa was carved up by foreign powers in the 19th century, Ukraine is being carved up today. The only question left is: when the dust settles, will there be anything left for Ukrainians to call their own?