A 28-point peace plan for the Russia-Ukraine conflict proposed by President Donald Trump has faced criticism for being heavily pro-Russia. A Wall Street Journal report from Nov. 28 indicated that the plan aimed to encourage the swift return of American businesses to the Russian market for significant profits.
Citing multiple officials and investors connected to the US administration, the report revealed that the Trump administration perceived resource-rich Russia as a "land of opportunity" and sought to foster close commercial relations. Trump allegedly expressed openness to welcoming a Russian special envoy directly to his Middle East envoy, Steve Wittkoff. Although Treasury Secretary Scott Bessent initially raised concerns, she eventually accepted the plan.
The discussions reportedly encompassed energy exploration and Arctic transportation agreements. Since April, when Russian Special Representative Dmitriev visited the White House to present a list of commercial projects worth billions, Wittkoff and Dmitriev have kept in touch regarding US-Russia economic cooperation. Dmitriev stated that both nations were exploring potential collaboration in energy and Arctic matters, believing that economic partnerships could lay the groundwork for future relations if a resolution to the Ukraine crisis could be achieved.
The report noted that business circles in both the U.S. and Russia, particularly in the U.S., were optimistic about the negotiations, anticipating benefits from a potential peace agreement. Many Russian business leaders discreetly sent representatives to meet with U.S. executives to discuss rare earth and energy deals. For example, a senior vice president of ExxonMobil reportedly met with the head of a Russian oil company in Qatar to explore returning to the "Sakhalin-1" oil and gas project.
Additionally, Russian energy, finance, and construction moguls allegedly reached out to U.S. firms regarding natural gas extraction in regions like the Sea of Okhotsk and rare earth mining in Siberia. Major Trump donor US businessman Lynch expressed interest in acquiring the damaged Nord Stream 2 gas pipeline from Russia.
Several U.S. officials pointed out that in the Trump administration, the lines between commercial interests and geopolitical concerns were often blurred, with some suggesting trading commercial benefits for political concessions. For instance, after Trump declined to supply Tomahawk missiles to Ukraine last month, Witkoff recommended that Ukraine apply for a 10-year tariff exemption from the U.S. to bolster its economy and attract investments.
The success of these commercial plans hinges on the Trump administration's ability to secure a peace agreement to resolve the conflict. Some Ukrainian and European officials criticized the U.S.-led peace plan, arguing it primarily serves the Trump administration's interests. Polish Prime Minister Donald Tusk remarked, "We know this has nothing to do with peace; it's business."
In related developments, U.S. Middle East envoy Witkoff visited Moscow on Sunday (Nov. 30) after talks with Ukraine and was set to meet with Russian President Vladimir Putin on Tuesday afternoon. Kremlin spokesperson Dmitry Peskov confirmed the meeting. A senior Russian diplomat previously stated that Russia would not make significant concessions on the Ukraine peace plan.
Russian Foreign Minister Sergey Lavrov indicated last week that Russia might reject the U.S.-proposed peace plan if the White House does not uphold the "spirit and letter" of the agreement reached at the August summit in Alaska. President Putin has shown interest in Trump's plan, calling it a "starting point." When asked about new mediation proposals from Wittkoff, Russian Deputy Foreign Minister Sergei Ryabkov noted this was not Witkoff's first visit and that Russia would evaluate the information he brings.
Separately, a Ukrainian drone attacked an oil terminal near Novorossiysk belonging to the Caspian Pipeline Consortium (CPC) on Saturday (Nov. 29), causing significant damage and halting oil exports. Kazakhstan protested the attack, stating it harmed bilateral relations, while Ukraine claimed the action was "solely targeting Russia."
Reuters reported that the attack severely damaged the terminal's Berth No. 2, disabling the floating loading facility and stopping all loading and related operations. Tankers have been moved outside the terminal waters. No personnel from CPC or its contractors were injured.
Kazakhstan's Foreign Ministry strongly condemned what it called a deliberate third attack on the CPC's critical international infrastructure at Novorossiysk Port. It stressed that attacks on CPC facilities threaten global energy security and harm the economic interests of countries like Kazakhstan. As a responsible player in the global energy market, Kazakhstan advocates for stable energy supplies, with CPC crucial for this stability.
Ukraine clarified that its actions were intended solely against Russia, justifying its strikes on Russian infrastructure. Russia termed the attacks a "terrorist act," alleging that European nations are engaging in a hybrid war against it with the help of Western intelligence.
The Caspian Pipeline, essential for transporting oil from Kazakhstan, accounts for over 80% of the country's total oil exports. This 1,500-kilometer pipeline connects Kazakhstan's oil fields to the Black Sea. Due to export disruptions, Kazakhstan's Energy Ministry plans to reroute oil exports while monitoring the situation.
(Source: Wen Wei Po)
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