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Peace Through Profit: The Problem with Steve Witkoff’s Ukraine Strategy
Russia’s president Vladimir Putin greets U.S. Special Envoy Steve Witkoff prior to their talks in Moscow on August 6, 2025. (Gavriil Grigorov/POOL/AFP)
The president’s dealmaker thinks business can fix any foreign-policy crisis. Putin’s cronies think differently.
By Eli Lake
12.03.25 — International
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Steve Witkoff, Donald Trump’s first friend and super-secretary of state, has a theory on how to end the war Russia started in Ukraine more than 11 years ago: Make everyone business partners.

That is the guiding principle behind Witkoff’s quiet diplomacy over recent months with Kirill Dmitriev, the chief of Russia’s sovereign wealth fund and President Vladimir Putin’s top negotiator on the war. In a revealing Wall Street Journal interview, Witkoff noted that “Russia has so many vast resources, vast expanses of land.”

If only the Ukrainians and Russians would stop fighting and get down to making money, then peace would follow. Or so Witkoff seems to think. “If we do all that, and everybody’s prospering and they’re all a part of it, and there’s upside for everybody, that’s going to naturally be a bulwark against future conflicts there. Because everybody’s thriving.”

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Eli Lake
Eli Lake is the host of Breaking History, a new history podcast from The Free Press. A veteran journalist with expertise in foreign affairs and national security, Eli has reported for Bloomberg, The Daily Beast, and Newsweek. With Breaking History, he brings his sharp analysis and storytelling skills to uncover the connections between today’s events and pivotal moments in the past.
Tags:
Donald Trump
Russia
Putin
Diplomacy
Ukraine
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