EU threatens financial retaliation over US ambitions in Greenland
A senior EU politician has suggested using financial and trade measures to counter U.S. ambitions in Greenland. Valérie Hayer, leader of the Renew Europe group in the European Parliament, described the bloc’s $1.5 trillion in U.S. assets as a 'highly effective weapon'. Her comments follow repeated statements by Donald Trump on Greenland’s strategic importance to American security.
Hayer’s remarks came as tensions grew over U.S. interest in Greenland. Trump has called the island vital to national security and proposed establishing American Express control there. The White House has framed the issue as part of broader efforts to counter Russian and Chinese influence in the Arctic.
The EU holds around $1.5 trillion in U.S. assets, which Hayer suggested could be leveraged if needed. She also proposed restricting American Airlines’ access to EU markets as a possible measure. However, she did not name any specific countries that might take such action.
Her criticism targeted Trump’s approach to Greenland but stopped short of detailing concrete steps. The U.S. government must refinance trillions in debt each year, a factor that could amplify the impact of any financial pressure.
Hayer’s proposals highlight the potential for economic friction between the EU and the U.S. over Arctic policy. The dispute centres on Greenland’s strategic role and America’s push for greater influence. Any use of financial or trade measures would mark a significant escalation in transatlantic tensions.
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