Europeans enraged by US greed

From the Politico:

"‘Witkoff needs a psychiatrist’: Europeans fume at Trump’s plan to profit from frozen Russian assets  

November 21, 2025  

 

By Tim Ross, Gregorio Sorgi, Clea Caulcutt and Bjarke Smith-Meyer

BRUSSELS — 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. 

For months European Union officials have been trying — and failing — to work out a way to use around €140 billion of immobilized Russian state assets held largely in Belgium to support Kyiv’s war effort. The cash is desperately needed as Ukraine is at risk of running out of money early next year... 

But the United States’ new 28-point blueprint for a ceasefire includes a rival idea for using those same assets for American-led reconstruction efforts once a truce has been agreed. The U.S. would take “50 percent” of the profit from this activity, the document said...

Multiple EU diplomats and officials said they feared the proposals, from Trump’s envoy Steve Witkoff, would wreck their chances of the loan proposal being agreed by the EU’s 27 governments. European leaders had been hoping to finalize the so-called “reparations loan” deal at a crunch summit next month.  

A former French official, granted anonymity like others to discuss sensitive matters, said the Witkoff idea “is, of course, scandalous.” 

“The Europeans are exhausting themselves trying to find a viable solution to use the assets for the benefit of Ukrainians and Trump wants to profit from them,” the person said. “This proposal is likely to be rejected by everyone.”

One senior EU official in Brussels scoffed at the idea and noted that whatever he wants, Trump has no power to unfreeze assets held in Europe. An official from an EU government resorted to colorful swearing to express their dismay, while a senior EU politician said: “Witkoff needs to see a psychiatrist.”...

A diplomat added the notion of America seeking to profit from assets held in Europe sounded like classic Trump. 

The details of the American plan are far from clear. However, the full text of the 28 points make plain that the Trump administration has designs on the frozen funds, with $100 billion to “be invested in U.S.-led efforts for Ukraine’s reconstruction and investment,” the document said. “The United States will receive 50% of the profit from this activity. Europe will add another $100 billion to increase total investment available for Ukraine’s recovery. Frozen European-held Russian funds will be unfrozen.”

The rest of the frozen Russian assets will be invested in “a separate U.S.–Russia investment instrument, to be used for joint American–Russian investment projects in sectors strengthening global stability and mutual economic interests.”

The 28-point plan has triggered widespread concern in European capitals this week that Trump is preparing to try to force Ukraine to accept an unequal peace deal that would benefit Vladimir Putin..."