How Russia tried to leverage huge economic deals to win US support - The Economist reveals
Photo: Donald Trump and Vladimir Putin (Getty Images)
Ahead of last year’s meeting in Alaska, Russia prepared what it described as the "biggest deal" in the economic sphere for the US president, worth $12 trillion in exchange for sanctions relief, according to The Economist.
Read also: Putin's history monologue sparked Trump's fury at Alaska summit - FT
As The Economist writes, promises of enrichment have long been at the core of Russian leader Vladimir Putin’s strategy.
According to the outlet, before Putin’s meeting with US President Donald Trump in August, a memo was prepared for Russia’s National Security Council explaining how to sell Trump the "biggest deal."
Since April of last year, Kirill Dmitriev, who heads Russia’s sovereign wealth fund, met at least nine times with Steve Witkoff, Trump’s special envoy. Individuals close to the Trump family also discussed acquiring stakes in Russian energy assets.
The United States was reportedly offered deals involving Arctic oil and gas, rare earth minerals, a nuclear-powered data center, a tunnel under the Bering Strait, and the return of Exxon Mobil’s $5 billion in assets.
According to media reports, the total package was valued at $12 trillion in exchange for easing sanctions against Russia.
However, The Economist notes that most of the proposals were aimed at attracting Trump’s interest, while the real economic benefits would be far smaller.
Even under the most optimistic forecasts, the actual annual income for American firms would not have exceeded $340 billion — only a fraction of the promised trillions.
The publication emphasizes that accepting such an offer would effectively mean investing in the restoration of Russia’s economy and preparing the Kremlin for future wars. For Washington, the deal would be more of a dangerous trap than a real benefit.
The Alaska meeting
As reported, on August 15, 2025, Trump met with Putin in Anchorage, Alaska, to discuss the war in Ukraine.
Initially, there were hopes that the meeting would help quickly reach agreements and even organize direct talks between Putin and Ukrainian President Volodymyr Zelenskyy.
In reality, however, negotiations stalled, and no tangible progress has been achieved so far.
