Rust employs a unique approach to memory management that aims to achieve both safety and efficiency. It uses a combination of ownership, borrowing, and lifetimes to ensure memory safety without relying on a garbage collector.

1. Ownership : In Rust, every value has a single owner. The owner is responsible for deallocating the memory associated with the value when it goes out of scope. Ownership can be transferred from one owner to another using move semantics, ensuring that there is always a clear owner of a resource.

2. Borrowing : Rust allows for borrowing references to resources without transferring ownership. Borrowed references can be either immutable (`&T`) or mutable (`&mut T`). Borrowing follows strict rules to prevent data races and ensure that references do not outlive the resources they refer to.

3. Lifetimes : Lifetimes in Rust track the duration for which references are valid. The compiler analyzes lifetimes to ensure that references are always used within their valid scope and do not lead to dangling references or use-after-free errors.

4. Drop Trait : Rust provides the `Drop` trait, which allows developers to specify custom cleanup code that runs when an owned value goes out of scope. This enables explicit resource deallocation and deterministic memory management.

5. Unsafe Code : Rust provides an `unsafe` keyword that allows bypassing some of the language's safety features when necessary. It enables low-level operations and interaction with external code, but requires explicit and careful handling to maintain safety guarantees.

By leveraging ownership, borrowing, lifetimes, and explicit resource deallocation, Rust eliminates many common memory-related bugs such as null pointer dereferences, use-after-free errors, and data races. The compiler enforces these rules at compile time, ensuring memory safety without the need for a garbage collector.