Lithium is the primary raw material for the future of green energy in Europe. It is needed to produce electric vehicle batteries, renewable energy storage devices, and digital devices. Ukraine is a key potential supplier, with its unused lithium reserves estimated at 500,000 to over 760,000 tons. Other estimates suggest that Ukraine may have over 33 million tons of lithium, worth almost $40B. Ukraine is among the top three countries in lithium reserves, along with the Czech Republic and Serbia.
One significant lithium ore deposit is located near Shevchenko in the Donetsk region, where fierce fighting is ongoing. As of January 15 2025, Russian troops controlled most of the town, with Ukraine retaining only a small portion of it. The Shevchenkivske deposit contains 90% of the country’s total lithium reserves.
The EU’s heavy dependence on lithium imports makes Ukraine’s resources strategically crucial to the bloc. If Ukraine regains control of these territories, the lithium reserves could help Europe move towards energy independence.