Donald Trump is preparing to offer Vladimir Putin access to rare earth minerals to incentivise him to end the war in Ukraine.

The US president will arrive at the much-anticipated meeting with his Russian counterpart on Friday armed with a number of money-making opportunities for Putin.

They will include opening up Alaska’s natural resources to Moscow and lifting some of the American sanctions on Russia’s aviation industry, The Telegraph can reveal.

Scott Bessent, the US treasury secretary, is understood to be among administration figures briefing Mr Trump ahead of his sit-down with Putin in Anchorage. Mr Bessent is exploring the economic trade-offs the US can make with Russia in order to expedite a ceasefire agreement.

Proposals include giving Putin access to the rare earth minerals in the Ukrainian territories currently occupied by Russia.

Volodymyr Zelensky, the Ukraine president, said Mr Trump supports security guarantees for Ukraine.

The two leaders attended a virtual summit along with other European leaders on Wednesday.

“There should be security guarantees,” Mr Zelensky said at a press conference alongside Friedrich Merz, the German chancellor. “President Trump said that he supports this and America’s readiness to take part.”