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“No fuel for US until Trump is finished”, Norway taps into $1.8 trillion wealth fund for Ukraine

Anmol Kumar by Anmol Kumar
March 6, 2025
in Europe
Nordic and European Nations Step Up Against Russia and the US

Nordic and European Nations Step Up Against Russia and the US

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In recent days, a sudden change in European politics can be seen. It has exposed both growing tensions with Russia and a new level of defiance against the United States. Norway, once a quiet NATO ally, has taken bold steps against American military presence. European leaders scramble to replace Washington’s declining support for Ukraine. This moment is not just about military aid—it’s about Europe’s fear and panic that made European leaders to take control of their own defence.

Norway’s Defiance: No Fuel for the US Military

The first signal of this shift came from Norway, where Haltbakk Bunkers, a fuel supplier private firm, announced it would no longer sell fuel to American military ships. The company’s decision came after a disastrous meeting between Ukrainian President Volodymyr Zelenskyy and US President Donald Trump. During the exchange, Trump reportedly belittled Ukraine’s struggle, warning that Zelensky was risking “World War III.” In response, Haltbakk Bunkers publicly condemned the US, calling the meeting a “backstabbing TV show” and cutting off fuel sales to American forces in Norway.

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While the financial impact of this move may be small—Haltbakk Bunkers supplied only about three million litres of fuel to US ships in 2024—it is highly symbolic. Norway, a long-standing NATO member, is sending a clear message that it does not approve of Trump’s stance on Ukraine. The company’s owner, Gunnar Gran, said bluntly that “not a litre” would go to US forces “until Trump is finished.”

Norwegian defence minister quickly reassured that the US military would still receive necessary support. However, the message from Haltbakk Bunkers is clear: American actions toward Ukraine have consequences, even among their closest allies. It would not have been without government support. 

Norway’s Wealth to Ukraine’s Rescue?

At the same time, Norway is considering a bold financial move to counteract America’s wavering support for Ukraine. With a massive €1.7 trillion sovereign wealth fund, the country has the means to step in where the US is retreating.

Norwegian politicians are debating whether to dramatically increase aid to Ukraine by tapping into this wealth. So far, Norway has spent €3.35 billion supporting Ukraine—far less than some of its Nordic neighbours. Politicians from multiple parties are calling for urgent action, with some demanding that billions more be allocated immediately. Nordic countries have supported Ukarine since the war broke out in 2022. 

Former Prime Minister Erna Solberg declared that Norway “must increase its use of oil money” to help Ukraine, while Liberal Party leader Guri Melby pushed for “immediate” additional funding. Others are even suggesting that Norway convert some of its sovereign wealth into European defence bonds, ensuring that the money is used to strengthen Europe’s military capabilities.

The EU’s Boldest Move Yet: A Massive Nordic

If Norway’s actions are significant, the European Union’s latest proposal is nothing short of historic and parallel to it. On March 4, European Commission President Ursula von der Leyen unveiled a five-part plan to mobilize nearly €841 billion for European defence. The plan, named “ReArm Europe,” is the strongest indication yet that the continent is preparing to take full responsibility for its own security.

Von der Leyen described the current moment as “a clear and present danger” unlike anything seen in recent history. With the US reducing aid to Ukraine, Europe is now looking for ways to provide immediate military support. The €841 billion plan aims to strengthen European defences not just for the present crisis but for the long term.

This is a game-changer. If Europe follows through, it will mark a major step toward strategic independence from the US. For decades, European security has depended on American military power through NATO. But with Trump’s continuous threats toward Ukraine and his threats to scale back NATO commitments, European leaders now see that they cannot rely on the US indefinitely.

Also Read: EU unveils $800 billion “Rearm Europe” plan to take on Russia

The Bigger Picture: Europe Breaking Free from US Dependence

The current situation highlights two major shifts in the global power situation. First, Europe is preparing for a future where it must defend itself without guaranteed American support. The EU’s €800 billion plan, Norway’s potential billions in aid, and the push for independent European defence bonds all point to a new era where the continent takes security into its own hands.

Second, European countries—especially the Nordic nations—are becoming bolder in challenging the US. Norway’s decision to cut off fuel supplies to American ships would have been unthinkable a few years ago. Now, it’s a reality. Across Europe, leaders are no longer waiting for Washington’s approval to act. Whether it’s funding Ukraine, punishing Russia, or strengthening defence capabilities, Europe is beginning to set its own course.

The Russia Factor: Why Europe Is Acting Now

Europe’s urgency stems from a growing sense of threat from Russia. Norway, which shares a border with Russia, has long been wary of its eastern neighbour. Moscow has ramped up military activity in the Arctic, increased espionage operations, and targeted European energy infrastructure with cyberattacks and sabotage attempts. Drone sightings near Norway’s key gas facilities and hoax bomb threats have only heightened fears.

For many European leaders, the lesson is clear: If the US is stepping back, Europe must step up. This is no longer just about Ukraine—it’s about the security of the entire continent.

Conclusion: A New Era for Europe

The past few days have revealed a turning point in European geopolitics. Norway’s defiance of the US, its potential surge in funding for Ukraine, and the EU’s massive defence plan all signal a historic shift. Europe is not just preparing for the possibility of a world without American military support—it is actively working to make that transition a reality.

While Washington hesitates, Europe is moving forward. If these actions continue, they could reshape global alliances for years to come. The message from Europe is clear: It will not be a bystander in its own security. The era of American dominance in European defence is fading, and a new, self-reliant Europe is beginning to emerge.



Tags: European Geopolitical ShiftsEuropean PoliticsHaltbakk BunkersNATONordic nationsReArm EuropeRussiasovereign wealth fundUkrainian President Volodymyr Zelenskyy
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Anmol Kumar

Anmol Kumar

A Failed Shuttler and an upcoming geopolitical analyst, who always try to bring a different angle of any geopolitical event. I spend my spare time in reading non-fictional books, cooking food and spending time on sports.

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