Kremlin Proposes Broad Economic Partnership with US, Conditional on Ukraine Peace Deal

Kremlin Outlines Conditional Economic Overture to United States

The Kremlin has reportedly proposed a comprehensive economic partnership with the United States, contingent upon the resolution of the ongoing Russo-Ukrainian war. This initiative, detailed in a high-level internal memo drafted this year and reviewed by Bloomberg, suggests a significant shift in Russia's economic strategy. The document, attributed to Russian envoy Kirill Dmitriev, an ally of President Vladimir Putin, outlines seven key areas where Russian and US economic interests could converge.

Key Pillars of the Proposed Partnership

At the core of the Kremlin's proposal is a potential return to dollar-based settlements for transactions, a move that would mark a substantial reversal of Russia's recent de-dollarization efforts. Beyond currency, the memo details a broad range of economic cooperation, including:

• Long-term contracts aimed at modernizing Russia's aircraft fleet, with potential US participation in Russian aerospace manufacturing.
• Joint ventures in the oil and gas sector, encompassing oil and liquefied natural gas (LNG) development, as well as offshore and hard-to-recover reserves. These ventures are reportedly intended to help US firms recoup past losses.
• Preferential terms designed to facilitate the return of US companies to the Russian market.
• Cooperation in critical technological fields such as nuclear energy and artificial intelligence.
• Collaboration on raw materials, including lithium, copper, nickel, palladium, and platinum, which are vital for US tech and aerospace manufacturing.
• Joint efforts to promote fossil fuels as an alternative to climate policies and low-carbon solutions 'favored by Europe and China'.

Context and Geopolitical Implications

The proposal is explicitly linked to the conclusion of the Russo-Ukrainian war, positioning economic incentives as a potential component of a future peace accord. This suggested return to dollar transactions would represent a significant policy shift for Moscow, which has actively sought to reduce its reliance on the US dollar following Western sanctions imposed in 2022. Western officials familiar with the memo have suggested that some of the proposals might be strategically crafted to 'deepen the divisions between the United States and Ukraine's European allies'. Furthermore, analysts indicate that such a deal could weaken the de-dollarization efforts of the BRICS bloc and potentially serve as a victory for a future US administration in weakening ties between Moscow and Beijing.

International Reactions and Perspectives

Ukrainian President Volodymyr Zelenskyy stated on February 7, 2026, that his government had learned of proposals for broad economic cooperation between the US and Russia. Zelenskyy indicated that these discussions, which he referred to as the 'Dmitriev package', could involve economic agreements worth up to $12 trillion and potentially touch upon issues related to Ukraine's sovereignty or security. He emphasized that 'Ukraine will not support any such even potential agreements about us that are made without us'. The Kremlin, for its part, confirmed on February 13, 2026, that it is 'obvious that Moscow is proposing cooperation' regarding the memo. However, Russian Foreign Minister Sergei Lavrov had previously expressed skepticism on February 9, 2026, about the prospects for meaningful economic relations with the US, citing Washington's 'economic dominance' and ongoing sanctions.