Borodyanka, Kyiv region, Ukraine

No Marshall Plan For Ukraine

May 13, 2022
Benn Steil

This is a summary of an article originally published by Foreign Affairs, with the subheading: "Geography and Geopolitics Dictate a Different Reconstruction Model."

The author, director of International Economics at the Council on Foreign Relations, writes:

  • “Ukraine’s remarkable courage and will to resist foreign aggression have earned it enormous respect and admiration around the world. The country will, however, never attract large-scale investment while it remains under the shadow of a hostile Russia, which is willing and able to unleash devastation at a moment’s notice. Whereas the creation of NATO was integral to the success of the Marshall Plan, ending the prospect of Ukraine’s incorporation into NATO is a stated Russian war aim. Unless the United States is willing to escalate all the way to nuclear confrontation with Russia, it will never be able to neutralize the ongoing threat to Ukraine and its economy.”
  • “The regrettable but inescapable conclusion is that long-term, credible internal and external security is a precondition for a successful Marshall Plan in Ukraine, and that the United States and its allies are incapable of providing it.”
  • “When it comes to making a Marshall Plan, there are simply no substitutes for auspicious geography and donors willing and able to deter or defeat determined opponents. The Marshall countries had both. Ukraine, sadly, has neither.”

Read the full article at Foreign Affairs.


Benn Steil

Benn Steil is director of International Economics at the Council on Foreign Relations.

The opinions expressed herein are solely those of the author. Photo by DmytryiOzhhikhiin free for use.