Bogdan Frolov08:29, 11.12.25

4 min.2670

The Trump administration’s plan to unlock frozen Russian funds held in Europe and bring Moscow back into the game has been outlined.

In recent weeks, the administration of US President Donald Trump has handed over to its European partners a series of documents – each just one page long – outlining a vision for Ukraine’s recovery and Russia’s return to the global economy.

These proposals have sparked a fierce negotiating battle between the US and its traditional allies in Europe. The outcome could radically alter the economic map of the continent, according to  The Wall Street Journal . The American plan was reportedly outlined in annexes to current peace initiatives, which are not publicly available.

The documents outline plans for American financial firms and other businesses to access approximately $200 billion in frozen Russian assets to implement projects in Ukraine, including the construction of a massive data center powered by Zaporizhzhia NPP.

Another appendix offers a broad outline of the American vision for bringing the Russian economy back from the cold: it envisions US companies investing in strategic sectors—from rare earth metals to Arctic oil drilling—and helping restore Russian energy supplies to Western Europe and the rest of the world.

Some European officials who have seen the documents said they were unsure whether some of the US proposals should be taken seriously.

One of them compared them to Trump’s idea to build a “Riviera-style” resort in Gaza. Another, speaking about possible energy deals between the US and Russia, called the current situation an economic version of the 1945 Yalta Conference, where the victors of World War II divided up Europe. 

European officials, however, want to use the same frozen Russian funds held in European financial institutions to provide loans to the cash-strapped Ukrainian government to purchase weapons and support the functioning of a rapidly depleting state.

Moreover, they fear that the American approach to resolving the war in Ukraine will give Russia the breathing space it needs to revive its economy and strengthen its military. A new Western intelligence assessment, reviewed by the Wall Street Journal, claims that the Russian economy has formally been in recession for six months, and attempts to simultaneously pursue a war economy and contain prices are creating systemic risks for the banking sector.

American negotiators, however, argue that the European approach would quickly exhaust the frozen assets. Washington, however, intends to attract Wall Street executives and billions from private equity funds to invest and multiply the available resources.

According to one of the negotiators, the volume could grow to $800 billion under American management. “Our logic is simple—we truly understand how finance grows,” he said.

Other news about US peace initiatives

UNIAN previously reported that the outlines of a peace agreement for Ukraine are becoming clear . Ukraine could soon receive a long-term peace agreement that provides for the country’s sovereignty, protected by security guarantees, integration into the EU, and economic recovery.

Regarding the country’s recovery after years of full-scale war,  Ukraine held a meeting with the United States . The American side was represented by Scott Bessent, Jared Kushner, and Larry Fink, CEO of BlackRock, the world’s largest wealth management firm with over $10 trillion in assets under management.

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