Behind an unmarked white door on a graffitied backstreet in Sarajevo, the registered address of AAFS Infrastructure and Energy occupies the kind of premises that would attract little notice were the company not reportedly on the verge of securing contracts valued at more than one billion dollars. The concession in question would allow the firm to build and operate a natural gas pipeline across the Balkans, designed to channel liquefied natural gas shipped from the United States and thereby reduce the region's longstanding dependence on Russian supply. Senior Bosnian officials, who have asked not to be identified given the sensitivity of the negotiations, have described the project as potentially the most consequential piece of infrastructure their country has ever undertaken. What AAFS appears to lack in relevant experience, it may be compensated for by proximity to power. Among the company's representatives are a Washington attorney who has acted for the Trump family in election-related litigation and the brother of the president's former national security adviser — both of whom were involved in efforts to overturn the 2020 presidential election result. US officials in the region are said to have made clear to Bosnian counterparts that the Trump administration expects the pipeline concession to be approved. The implications extend well beyond commercial interest. Bosnia remains a fragile state whose ethnic divisions were only partially resolved by the 1995 Dayton Agreement, brokered with decisive American involvement following a war that claimed approximately 100,000 lives. Critics have warned that Washington's current approach — in which business relationships appear to intersect with diplomatic leverage — risks destabilising the delicate political arrangements that have kept an uneasy peace.…