Russia could resume dollar payments, says Bloomberg

Russia has prepared a document outlining seven areas where, in the Kremlin’s view, Moscow’s and Washington’s economic interests could align after the end of Russia’s war in Ukraine.

The document proposes:

• joint promotion of fossil fuels over greener alternatives;

• joint investments in natural gas, offshore oil extraction, and critical raw materials, which would benefit US companies;

• Russia’s return to the dollar-based payment system.

Bloomberg notes that seeking alternatives to the dollar has long been a priority for Moscow, so a return to dollar transactions is considered unlikely by Western officials.

At the same time, the outlet points out that if Russia does take this step, it would mean submitting again to Washington’s financial dominance and abandoning efforts to reduce the Russian economy’s vulnerability to US pressure.

"The plan would be a reversal of Kremlin policy and could hand the Trump administration a major victory in weakening the relationship between Moscow and Beijing," the outlet writes.

Earlier, Ukrainian President Volodymyr Zelenskyy said that a representative of Russian President Vladimir Putin, Kirill Dmitriev, offered the US an economic cooperation package worth $12 trillion.

US-Russia cooperation

Back in November, US President Donald Trump suggested that Russia wants to do business with the US.

According to him, Putin’s desire for such cooperation is a key factor that could push Russia to end the war in Ukraine in the coming months.