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Trump's plan for Ukraine threatens to undermine expropriation of Russian assets — Politico

The United States’ new 28-point blueprint for a ceasefire includes an idea for using €140 billion of immobilized Russian state assets for American-led reconstruction efforts once a truce has been agreed

BRUSSELS, November 21. /TASS/. The US proposals on Ukraine threaten to disrupt the expropriation of Russia's assets in the EU, and deprive Kiev of external financing for 2026-2027, which angers Brussels, Politico said in a story headlined "Witkoff needs a psychiatrist."

"[US President] Donald Trump has hurled a wrench into one of the most sensitive negotiations currently under way in Europe, potentially derailing efforts to help fund Ukraine to stay in the fight against Russia," it says.

The United States’ new 28-point blueprint for a ceasefire includes an idea for using €140 billion of immobilized Russian state assets for American-led reconstruction efforts once a truce has been agreed. The U.S. would take "50%" of the profit from this activity, the document said.

Politico says that the European Union officials have for months been trying — and failing — to work out a way to use the assets to support Kiev’s war effort. They want to decide on this issue at a summit on December 18-19. The European Commission estimates Kiev's external financing needs for 2026-2027 at €135.7 billion.

A former French official said that US President's Special Envoy Steve Witkoff’s idea "is, of course, scandalous."

"Witkoff needs to see a psychiatrist," another unnamed European official told the publication. All Politico sources agree that the US demand to unblock Russian assets and transfer a significant part of them to the fund for the restoration of Ukraine "is likely to be rejected by everyone."

Attempts to expropriate Russia's sovereign assets frozen in Europe are still being blocked by Belgium, which holds the bulk of Russia's assets - about €200 billion. The Belgian government is afraid of Russia's retaliatory actions, and also does not want to lose about €1 billion per year, which Belgium receives in the form of an income tax on reinvestment of the assets.

Earlier, Russian ambassador to Belgium Denis Gonchar said in an interview with TASS that regardless of which scheme is used to expropriate Russian assets, it would be theft. Russia's retaliatory actions "will follow immediately" and force the West to "count losses," the ambassador warned.

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Ukraine United States Donald Trump

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