On Tuesday in Saudi Arabia, when the Trump administration sat down with Russia to discuss Ukraine, they did so without setting any firm boundaries. It appears their primary focus was on economic interests. Secretary of State Marco Rubio highlighted this when he mentioned that a joint team would not only work on supporting peace talks for Ukraine but also explore potential geopolitical and economic collaborations with Moscow.
Across Kyiv and various European hubs, there’s a palpable sense of shock at the depths of Donald Trump’s approach to international diplomacy and his indifference to the human impact at stake. However, it’s hardly surprising that business remains a priority on the table. Vladimir Putin is keen to reintegrate Russia into the global economic fold, suggesting that American companies, particularly in the energy sector, stand to gain significantly by re-engaging with Russia.
For Trump, the lines between his pursuit of money and power are often blurred, akin to how he sometimes confuses U.S. objectives with his personal ambitions. This is evident in instances like launching his own cryptocurrency token just before his return to the White House, alongside efforts to relax industry regulations.
When discussing regions like Ukraine or Gaza, Trump’s focus often shifts away from human rights or security, zeroing in instead on the potential $500 billion in minerals or promising real estate. His foreign policy, more about striking deals than fostering peace, is led by figures such as Steve Witkoff, a billionaire with zero diplomatic credentials, rather than seasoned diplomats. In Riyadh, Russia was represented by Kirill Dmitriev, leading their sovereign wealth fund, while Ukraine and its European allies were notably absent.
Trump’s emphasis on the interplay of wealth and influence was clear even before his first term. He once floated the idea of using Taiwan as a bargaining chip in negotiations with China, which John Bolton, a former national security adviser, revealed included urging China to increase agricultural purchases to boost his electoral standing—an allegation Trump denied.
His Middle East strategy, despite how jarring it might be, appeals to his evangelical base. The audacious plan to displace Palestinians from Gaza in favor of developing an American Riviera is not a standalone notion but extends from ideas shared by business allies and Israeli settlers. Jared Kushner, his son-in-law and ex-real estate developer who led Middle East policy, speculated last year about the untapped value of Gaza’s waterfront. Notably, the Saudi sovereign wealth fund, post-administration, became a significant investor in Kushner’s private equity initiatives.
Volodymyr Zelenskyy attempted to leverage Trump’s economic perspective by promising resource access for security assurance. Although this piqued Trump’s interest, the ensuing U.S. demands seemed less like diplomatic negotiations and more like coercion. Trump assesses everything’s price but recognizes the true value of nothing. Now, others face the task of conveying to him that his ambitions might come with hefty costs.
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