Trump & Putin. Yes, It's Really a Thing

Over the last year there has been a recurrent refrain about the seeming bromance between Donald Trump and Russian President Vladimir Putin. More seriously, but relatedly, many believe Trump is an admirer and would-be emulator of Putin's increasingly autocratic and illiberal rule. But there's quite a bit more to the story. At a minimum, Trump appears to have a deep financial dependence on Russian money from persons close to Putin. And this is matched to a conspicuous solicitousness to Russian foreign policy interests where they come into conflict with US policies which go back decades through administrations of both parties. There is also something between a non-trivial and a substantial amount of evidence suggesting Putin-backed financial support for Trump or a non-tacit alliance between the two men.

Let me start by saying I'm no Russia hawk. I have long been skeptical of US efforts to extend security guarantees to countries within what the Russians consider their 'near abroad' or extend such guarantees and police Russian interactions with new states which for centuries were part of either the Russian Empire or the USSR. This isn't a matter of indifference to these countries. It is based on my belief in seriously thinking through the potential costs of such policies. In the case of the Baltics, those countries are now part of NATO. Security commitments have been made which absolutely must be kept. But there are many other areas where such commitments have not been made. My point in raising this is that I do not come to this question or these policies as someone looking for confrontation or cold relations with Russia.

Let's start with the basic facts. There is a lot of Russian money flowing into Trump's coffers and he is conspicuously solicitous of Russian foreign policy priorities.

I'll list off some facts.

1. All the other discussions of Trump's finances aside, his, from $350 million to $630 million. This is in just one year while his liquid assets have also decreased. Trump has been blackballed by all major US banks.

2. Post-bankruptcy Trump has been highly reliant on money from Russia, most of which has over the years become increasingly concentrated among oligarchs and sub-garchs close to Vladimir Putin. Here's a from The Washington Post, with one morsel for illustration ...

Since the 1980s, Trump and his family members have made numerous trips to Moscow in search of business opportunities, and they have relied on Russian investors to buy their properties around the world.

“Russians make up a pretty disproportionate cross-section of a lot of our assets,” Trump’s son, Donald Jr., told a real estate conference in 2008, according to an account posted on the website of eTurboNews, a trade publication. “We see a lot of money pouring in from Russia.”

3. One example of this is the Trump Soho development in Manhattan, one of Trump's largest recent endeavors. The project was the hit with a series of lawsuits in response to some typically Trumpian efforts to defraud investors by making fraudulent claims about the financial health of the project. Emerging out of that litigation however was Most attention about the project has focused on the presence of a twice imprisoned Russian immigrant with extensive ties to the Russian criminal underworld. But that's not the most salient part of the story. As the Times put it,

"Mr. Lauria brokered a $50 million investment in Trump SoHo and three other Bayrock projects by an Icelandic firm preferred by wealthy Russians “in favor with” President Vladimir V. Putin, according to a lawsuit against Bayrock by one of its former executives. The Icelandic company, FL Group, was identified in a Bayrock investor presentation as a “strategic partner,” along with Alexander Mashkevich, a billionaire once charged in a corruption case involving fees paid by a Belgian company seeking business in Kazakhstan; that case was settled with no admission of guilt."

Another suit alleged the project "occasionally received unexplained infusions of cash from accounts in Kazakhstan and Russia."

Sounds completely legit.

Read both articles: After his bankruptcy and business failures roughly a decade ago Trump has had an increasingly difficult time finding sources of capital for new investments. As I noted above, Trump has been blackballed by all major US banks with the exception of Deutschebank, which is of course a foreign bank with a major US presence. He has steadied and rebuilt his financial empire with a heavy reliance on capital from Russia. At a minimum the Trump organization is receiving lots of investment capital from people close to Vladimir Putin.

Trump's tax returns would likely clarify the depth of his connections to and dependence on Russian capital aligned with Putin. And in case you're keeping score at home: no, that's not reassuring.

4. Then there's Paul Manafort, Trump's nominal 'campaign chair' who now functions as campaign manager and top advisor. Manafort spent most of the last decade as top campaign and communications advisor for Viktor Yanukovych, the pro-Russian Ukrainian Prime Minister and then President whose ouster in 2014 led to the on-going crisis and proxy war in Ukraine. Yanukovych was and remains a close Putin ally. Manafort is running Trump's campaign.


By: dcmfox (74707.66)

Tags: Trump & Putin. Yes, It's Really a Thing

Location: Russia


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