The world’s largest asset manager has been enlisted to help build Ukraine’s recovery plan. Some fear it is part of a Trump administration effort to steer the effort toward American business interests.

And that is exactly what Vladimir Putin wants. Russia’s president must be rubbing his hands and giggling with glee as he watches the president of the United States of America deliver the kind of strategic effect for Russia that a KGB colonel could only dream of.

Sir Keir Starmer and Emmanuel Macron have reacted differently to the imposition of Donald Trump’s 10 per cent tariffs on exports from Britain and seven other European nations.

Ronald S. Lauder, a billionaire friend of Mr. Trump, is among the investors. The move comes as the Trump administration looks for investment opportunities in Ukraine.