JP Morgan has called on the US to develop a Marshall Energy Plan for Europe.

 In an annual letter to investors, JP Morgan CEO Jamie Damon called on the Biden administration to take a stronger stance against the “new serious geopolitical realities” that emerged after Russia invaded Ukraine. The military action in Ukraine and sanctions against Russia have had a significant economic impact. Daimon said that they have shaken world markets, including oil, raw materials, and agricultural products.” He called on the United States to develop a Marshall Plan to reduce the West’s dependence on Russian fossil fuels, citing the 1948  Truman aid program that helped Western Europe recover from World War II.