When Russian President Vladimir Putin launched his full-scale invasion of Ukraine in February 2022, he knew that he was upending Europe’s security order. But this was more of a tactical gambit than a calculated strategy, and he could not have predicted what would follow. Though U.S. President Donald Trump’s return to the White House has caught Europe flat-footed, it can still keep Putin from walking away a winner. For now, Putin seems to hold all the cards. The transatlantic relationship is fra