The Trump administration has proposed restoring Russian energy flows as part of a broader plan for Ukraine’s reconstruction and Russia’s reintegration into the global economy, The Wall Street Journal has reported.
According to the report published on Wednesday, the plans were laid out in appendices attached to peace proposals shared with European counterparts in recent weeks.
The proposals envision US companies accessing roughly $200 billion in frozen Russian state funds to finance projects in Ukraine, including a large data centre that would run on power from the Russian-held Zaporizhzhia nuclear plant.
The framework also calls for US firms to enter key Russian sectors, including rare-earth mining and Arctic oil exploration, while reopening Russian energy supplies to Western Europe and global markets.
Some European officials who reviewed the documents questioned how seriously the proposals should be taken, with one comparing them to US President Donald Trump’s earlier suggestion of turning Gaza into a Riviera-style resort.
Another European official also likened the proposed US-Russia energy arrangements to an economic “Yalta-style” deal.
The report added that European officials want to use the frozen Russian assets in Europe to lend Ukraine money for essential weapons and government operations.
European officials said the US plan risks sidelining Europe’s strategy to support Ukraine and keep Russia economically isolated, prompting a rush in European capitals to act before Washington sets the terms.
US officials argued that Europe’s plan would drain the frozen Russian assets, while the American approach would enlist major US financiers to grow the fund, potentially expanding it to about $800 billion.
