Opinion | 'Dollar diplomacy' doesn't work. Yet Trump keeps using it.
- Kushner and Witkoff linked to $20 billion Russian asset sale while negotiating Ukraine peace.
- Proposed Lukoil deal involves Trump donors and partners in a web of private-public entanglements.
- History of 'dollar diplomacy' shows dictators prioritize power over beachfront resorts and luxury hotels.
- Trump's attempts to trade sanctions relief for economic development have failed in North Korea, Gaza, and Iran.
Brief Summary
The Trump administration's foreign policy is increasingly defined by a high-stakes, blurry intersection of national security and private profit. Envoys Jared Kushner and Steve Witkoff are currently navigating a $20 billion Lukoil asset sale that features a cast of stakeholders ranging from Trump donors to business partners in overseas real estate ventures. The White House frames this as 'economic security,' but the optics suggest a transactional approach that treats global diplomacy like a real estate development project.
Why This Matters
This matters because it signals a fundamental shift in how the U.S. wields its influence on the world stage. When foreign policy becomes a marketplace, it obscures whether decisions are made to benefit national security or the private balance sheets of those in power. If this approach continues, you may see U.S. foreign policy become less about strategic stability and more about which global players have the capital to strike a deal. This creates a volatile environment where geopolitical alliances are constantly up for sale, potentially leaving you vulnerable to the fallout of failed negotiations when dictators decide they want power more than the next luxury resort.