It is now clear that the administration of US President Donald Trump will betray Ukraine in its fight against Russian aggression. Trump himself has either become a victim of disinformation or is voluntarily trying to deceive Americans about the causes and consequences of this war.
Specifically, Trump is lying when he claims that Ukraine is equally to blame for the war; that Ukrainian President Volodymyr Zelensky “does not have the cards” to end the conflict on favorable terms; and that Ukraine cannot defend itself without U.S. help. The whole world knows that Russia launched an unprovoked invasion, and we all remember the first weeks when the Ukrainians, against an allegedly superior army, bravely defended some 3.000 km of front line - long before Western artillery, armored vehicles, and air defense systems began to arrive.
The embarrassing scene in the Oval Office on February 28 highlighted Trump’s hostility toward Zelensky and his love for Russian President Vladimir Putin. Is it because Trump simply likes authoritarian figures who serve his own ambitions? Or does Putin have dirt on Trump (as many suspected during his first term)?
In any case, Trump rejects the very idea of the rule of law because it subordinates the law to political interests: the law should be used when it serves the president’s interests, and ignored when it does not. Agreements between countries (even those he himself signed) can be violated at will. Thirty years ago, with the signing of the Budapest Memorandum in December 30, the US, along with Great Britain and Russia, pledged to defend the territorial integrity of Ukraine. Ukraine, for its part, agreed to give up the world’s third-largest nuclear arsenal, inherited from the USSR. Russia violated the agreement by invading and illegally annexing Crimea in 1994, and now Ukraine has been betrayed by two parties to the agreement.
Trump’s refusal to keep America’s word is shameful. Ukrainians honored their side of the bargain and expected the United States to do the same. Such betrayals have deadly consequences, and not just for Ukraine. For decades, European security has relied on Article 5 of the NATO treaty, which states that an attack on one member of the alliance is an attack on all. Now, however, it is clear that the United States will protect Europe only if such protection is in Trump’s own interests, as he sees them. International law and treaty obligations mean nothing to him – just as they mean nothing to Putin.
Europeans are trying to adapt to this harsh reality. The immediate challenges are: creating a self-sufficient defense force and deciding what to do with the $220 billion in Russian sovereign assets held in European jurisdictions (out of a total of $300-350 billion frozen in 2022). In June 2024, the G7 agreed to use the interest earnings ($50 billion) on these assets to provide financial assistance to Ukraine, and the European Commission made the first payment of $3 billion in January 2025. But with the US likely to stop providing financial assistance, this half-measure is no longer enough. Europe must go further and seize all Russian assets under its control.
We were earlier писали that these funds should be used to finance the reconstruction of Ukraine, because the damage caused by Russian aggression far exceeds 220 billion dollars, but now this money is even more needed. It is impossible to rebuild a country that is still under attack and partially occupied. Justice and common sense dictate that these funds should be invested in financing the defense of Ukraine. Europe can use whatever legal maneuvers it needs, but it is important that Ukraine immediately receives this money and can buy military equipment and rebuild the infrastructure that Russia is constantly destroying.
The question of responsibility for this step cannot be raised. Russia cannot be allowed to claim that these assets are protected by law while it undermines the rule of law and arbitrarily confiscates Western assets under its jurisdiction. The urgent provision of these funds to Ukraine is in the interest of Europe itself. Whatever Ukraine spends on defense will ultimately strengthen Europe's own defense potential and stimulate its weakened economy.
There is no time to waste. Using these funds as collateral for a future International Claims Commission, as proposed, will lead to unacceptable delays. The tide of authoritarianism is rising, and Europe has become a global bulwark against it. European values - but also the protection of civil liberties, democracy and human rights around the world - are now at stake.
As French President Emmanuel Macron recently said, “Europe must rediscover a taste for risk, ambition and power.” If he and other European leaders want to put their verbal support for Ukraine into action after the Oval Office fiasco, they should seize the moment and confiscate Russian assets. Ukraine is now defending all of Europe. And Europe should not hide behind legal pretexts.
A. Kosenko is an assistant professor of economics in the School of Management at Marist College;
JE Stiglitz is an American economic expert; he is a Nobel Prize winner in economics; he is a professor at Columbia University
Copyright: Project Syndicate, 2025. (translation: NR)
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