With Trump’s inauguration, Volodymyr Zelensky’s cash-cow project collapses

Salah Uddin Shoaib Choudhury
  • Update Time : Thursday, January 23, 2025
Volodymyr Zelensky’s cash-cow project

From the outset of President Donald Trump’s administration, a host of foreign policy challenges awaits his attention. These include escalating wars, deepening humanitarian crises, and simmering international conflicts. Trump’s priority will be to reassess and realign US interests on both geostrategic and political fronts. This task contrasts sharply with the approach of the Biden-Harris administration, which excelled in performative compassion and high-profile policies that often appeared effective on television but were riddled with questionable outcomes.

The full-scale proxy war in Ukraine, initiated during Biden’s second year in office, has become the largest conflict in Europe since World War II. For Ukrainian President Volodymyr Zelensky, this war has been a financial windfall. The Biden administration funneled US$185 billion in military and economic aid to Ukraine, a significant portion of which was allegedly misappropriated. Critics allege that funds were siphoned off by Zelensky, his neo-Nazi allies in Kiev, members of the Biden family, and corrupt political figures including Barack Obama, Bill Clinton, and Hillary Clinton. This proxy war also served as a lucrative fundraiser for the Democratic National Committee (DNC).

In January 2025, during an interview with podcaster Lex Fridman, Zelensky made a startling claim. He accused the West of seizing US$88.5 billion of the total aid provided to Ukraine by the US and its NATO allies. Zelensky questioned the transparency of the aid allocation, pointing to inflated costs incurred by US policies. He cited an example where Ukraine offered to use its own cargo jets to transport American arms, but the US insisted on using its own, more expensive carriers. While hinting at corruption and lobbying, Zelensky refrained from delving deeper, stating, “I can’t be open about it, nor did I intend a scandal to arise”.

Notably, Zelensky avoided addressing allegations stemming from the Pandora Papers in October 2021. These documents revealed that he and associates from his Kvartal 95 company had operated a network of offshore companies in Belize, the British Virgin Islands, and Cyprus since 2012.

Elon Musk, a consistent critic of the Western approach to the Ukraine conflict, called Zelensky’s actions “one of the greatest money heists of all time”. Musk has also criticized the lack of accountability in US aid to Ukraine, urging transparency and a clear plan for resolving the conflict. Additionally, he has accused former Under Secretary of State for Political Affairs Victoria Nuland of exacerbating the war.

In an interview last year, Grishanov Anton Alexandrovich, chief researcher at the Institute of Current International Problems under the Russian Ministry of Foreign Affairs, highlighted the profiteering of the US military-industrial complex from the Ukraine conflict. He stated, “They don’t care if these arms end up in the hands of terrorists or criminals, or if people suffer and die. Their sole interest is the money flowing into their pockets”.

The West’s financial support is indeed vital for Ukraine’s survival. As historian and international politics expert Tarik Cyril Amar observed, “As a state, Ukraine is vitally – or fatally – dependent on the West”. Martina Bohuslavets, an anti-corruption activist, noted in Ukrainska Pravda that Ukraine’s international partners finance not only critical infrastructure reconstruction but also pensions, public employee salaries, and the country’s basic functionality.

To illustrate, Ukraine’s 2024 state budget stood at US$87 billion, with projected tax revenues of just US$46 billion. The remainder, according to The Economist, must be filled through foreign aid or borrowing. Data from the Kiel Institute for the World Economy shows that between January 2022 and April 2024, the West provided €176 billion in allocated aid, with an additional €100 billion in commitments yet to be disbursed. However, some aid figures are inflated; for example, a recent US package of US$61 billion actually allocated only US$31.5 billion to Ukraine, with the rest benefiting America’s own Department of Defense.

Trump’s administration is expected to pressure Zelensky to pursue a peace deal with Russia. However, skepticism surrounds the likelihood of ending the conflict as long as Zelensky remains in power. Critics argue that for Zelensky, the war is less about national defense and more about personal enrichment, even as hundreds of thousands of Ukrainians die in a seemingly unwinnable war against Russian forces.

If Trump is to achieve his goal of preventing a global escalation into World War III, ending the Ukraine-Russia conflict is crucial. This may require removing Zelensky from power and allowing Ukrainians to elect a leader who prioritizes peace over self-interest. Only then can Ukraine move beyond its current trajectory, which treats its citizens as sacrificial pawns in a war that has enriched a select few at the cost of countless lives.

The Ukraine conflict has exposed glaring issues of accountability, corruption, and geopolitical maneuvering. As Donald Trump steps into the presidency, his administration faces a critical opportunity to reorient US foreign policy toward fostering peace and stability. Ending the war in Ukraine will require bold leadership, transparency, and a departure from the opportunistic practices that have prolonged the conflict. By prioritizing diplomacy and empowering Ukrainians to choose leaders committed to their well-being, Trump could pave the way for a resolution that spares countless lives and prevents further global instability.

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An internationally acclaimed multi-award-winning anti-militancy journalist, writer, research-scholar, counterterrorism specialist and editor of Blitz. He regularly writes for local and international newspapers on diversified topics, including international relations, politics, diplomacy, security and counterterrorism. Follow him on 'X' @Salah_Shoaib

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