The emerging fight over frozen Russian assets has turned the “Ukraine 28‑point peace plan” into a proxy war between Washington and the euro‑establishment over money, leverage, and who will control the political endgame with Moscow. The technical language of “windfall profits,” “reconstruction funds,” and “loan facilities” disguises a blunt question: who gets to capture and deploy the value of Russia’s seized reserves, and for what purpose. In that sense, the transatlantic split is not a sides...