WSJ: The US Will Squeeze Russia Dry
13- 17.01.2025, 15:30
- 17,978
How the Kremlin will be forced to pay for the restoration of Ukraine.
The US may force Russia to compensate for the damage caused to Ukraine if Donald Trump returns to power. This is what Neil Ferguson, a senior fellow at the Hoover Institution, and Chris Miller, a professor at Tufts University, write in their column for The Wall Street Journal.
“The key to securing Europe at less cost to U.S. taxpayers may be sitting in European bank accounts. The West has frozen around $300 billion of Russian foreign-exchange assets, but European obstinacy has prevented these funds from being used to compensate Ukraine for war damages. President-elect Trump should insist that the Kremlin’s reserves be mobilized to fund Ukraine’s reconstruction and future arms purchases,” the authors note.
Russia has caused more than $150 billion in direct damage to Ukraine and nearly $500 billion in economic losses, according to the World Bank. “Ukraine will need external funds of this magnitude to rebuild, and more in the meantime to rearm itself with continued purchases of Western weapons,” stated in the material.
According to the experts, the obvious solution for compensation is to use the frozen Russian assets. Only $50 billion has been released so far, with most of the funds remaining inaccessible due to resistance from European allies.
In addition, Miller and Ferguson identified the TOP 5 factors that make now the ideal time to use these funds to compensate Russia’s victims.
The first is the return of Donald Trump. As a skilled negotiator, he will be able to pressure Europeans who fear his decisive actions.
Second, the assets have changed. The securities have largely matured into cash, potentially giving Washington and London the ability to act unilaterally.
Third, it’s clear that the reserves can be mobilized in ways consistent with international law.
Fourth, the weakening of Russia. Moscow no longer has sufficient instruments for serious economic retaliation.
Fifth, Europe's changing position, more and more European governments support the idea of long-term financing for Ukraine.
In conclusion, the experts emphasized that the United States and its allies now have a unique opportunity to ensure justice for Ukraine by using Russian assets as a source of compensation.
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