WSJ: US plan to reintegrate Russia into global economy sparks clash with Europe
The administration of US President Donald Trump has recently provided its European counterparts with a series of documents outlining its vision for Ukraine's recovery and the reintegration of Russia into the global economy.
As reported by The Wall Street Journal, the US plan is set out in annexes to current peace proposals on Ukraine that have not been made public yet but were described to The Wall Street Journal by US and European officials.
The documents outline in detail plans by American financial firms and other companies to use approximately US$200 billion in frozen Russian assets for projects in Ukraine, including the construction of a new major data centre powered by the Zaporizhzhia Nuclear Power Plant, which is currently under Russian occupation.
Another annexe sets out a broader US concept for pulling the Russian economy out of crisis. Under this vision, American companies would invest in strategic sectors, from rare-earth metal extraction to drilling for oil in the Arctic, and help restore the flow of Russian energy supplies to Western Europe and other parts of the world.
Some European officials who have reviewed the documents said they were unsure whether certain US proposals should be taken seriously.
One official compared them to President Trump's idea of building a Riviera-style resort in Gaza.
Another, referring to the proposed US-Russia energy deals, described them as an economic version of the 1945 conference at which the victors of World War II carved up Europe: "It's like Yalta."
According to the WSJ, the dispute at the negotiating table now concerns not only Ukraine's borders but increasingly business interests – and notably pits not only Russia against Ukraine, but also the US against its traditional European allies.
Media reports previously indicated that American companies with close ties to the Trump administration are positioning themselves to benefit from the US "peace plan".
European officials fear that the US approach would give Russia the breathing space it needs to revive its economy and strengthen its military capabilities.
The US negotiating team considers joint economic activity and energy interdependence to be the cornerstone of its "business for peace" philosophy.
It was reported that Ukrainian and US representatives held talks on Wednesday regarding Ukraine's post-war reconstruction and economic recovery.
On 9 December, Zelenskyy also said that work is now complete on the Ukrainian and European proposals regarding the "peace plan" at the level of national security advisers and they are ready to be presented to the United States.
He also said that three documents are being prepared as part of the negotiations between Ukraine, Europe and the US – documents that will form the basis of a future peace settlement.