[vc_column_textDrafted 3 July, updated 5 July 2025
Russia and the US want the surrender of Ukraine, this has been clear for a while now:
- The lack of new US sanctions allows restricted goods and funds to enter Russia. President Trump has issued no new restrictions on Russia this year, effectively allowing Moscow to acquire the money and materials it needs in its conflict with Ukraine.
- Donald Trump interrupts the delivery of the US missile umbrella to the Ukrainians, a wake-up call for Europeans. Major cities will be more vulnerable to Russian bombardment due to the freezing of US aid to the most crucial air defences. The Europeans are unable to quickly fill the void left in Kiev’s arsenal.
Apart from the political closeness between Putin and Trump, which I had already highlighted in the first chapter of ‘Our Man in Washington, Trump in the Hands of the Russians’, there are some economic and financial aspects I would like to highlight :
- markets and consumers do not trust Donald Trump
- the US in the first quarter of 2025 has gone into recession.
- the Americans have to deal with the caravan (inherited from Covid- 19 and Biden but which Trump has by no means eradicated)
- the economic policy on tariffs and retroactive taxes has sown panic and uncertainty (2 agreements have been signed – with Vietnam and the UK – out of the 90 promised)
- the dollar has collapsed (almost – 14% against the euro)
- with the ‘Big Beautiful Bill’ Trump will add – at the very least – $3 trillion of new debt to an already monstrous deficit
- many investors in US debt – treasury bonds – have fled and invested elsewhere.
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‘Our Man in Washington’: Trump in the Hands of the Russians, Chapter Two
Russia and the U.S. both want Ukraine to surrender – that much is now clear.
The absence of new U.S. sanctions has allowed restricted goods and funds to flow into Russia. President Trump has issued no new restrictions against Moscow this year, effectively enabling the Kremlin to access the money and materials it needs to continue its war against Ukraine.
Trump has also halted the delivery of U.S. missile defence systems to the Ukrainians – a warning sign for Europe. Major Ukrainian cities are now more vulnerable to Russian airstrikes due to the freezing of U.S. support for critical air defenses. Europe is unable to quickly fill the gap left in Kyiv’s arsenal.
Beyond the well-known political proximity between Putin and Trump – which I highlighted in the first chapter of ‘Our Man in Washington: Trump in the Hands of the Russians ‘ – there are several economic and financial issues worth noting:
- Markets and consumers do not trust Donald Trump
- The U.S. entered a recession in Q1 2025
- Americans are still grappling with high living costs, a legacy of COVID-19 and the Biden years, which Trump has done nothing to resolve
- Trump’s economic policy of tariffs and retroactive taxeshascaused panic and uncertainty (only 2 trade agreements signed – with Vietnam and the UK – out of the 90 he promised)
- The U.S. dollar has collapsed, losing nearly 14% against the euro
- With his ‘Big Beautiful Bill,’ Trump is set to add at least $3 trillion in new debt, worsening an already massive deficit
- Many investors have fled U.S. Treasury bonds, redirecting their capital elsewhere.
All indicators, except perhaps the general labour market indicator, are negative.
But then if you delve deeper you realise that US private companies are slowing down hiring.
I do not venture to make economic predictions but can simply state that there will be a regime, post-Soviet, that will take advantage of this, against our economic and political interests as Europeans.
🇬🇧 All indicators – except perhaps the overall labour market – are negative.
But a closer look reveals that U.S. private companies are slowing down their hiring.
I wouldn’t dare make economic forecasts, but I can say this with certainty:
there is a post-Soviet regime that will benefit from this situation – at the expense of our economic and political interests as Europeans.
