Russia proposes economic cooperation with US including return to dollar use

An internal Kremlin memo dated this year has outlined seven specific areas for potential economic cooperation with the Trump administration, including a proposal to return to the use of the U.S. dollar in bilateral dealings. The document, which was reported by Bloomberg News but could not be immediately verified by Reuters, suggests a framework for a substantive shift in economic relations between Russia RU and the United States US. The memo is currently described as being under discussion rather than a finalized policy.

The document identifies several key sectors where alignment could be sought, prioritizing the fossil fuels sector over the renewable energy sector. Specific areas of focus include the natural gas sector, the offshore petroleum sector, and the strategic minerals sector. If enacted, these proposals would represent a substantive shift in the mechanics of bilateral trade and the broader economic ties between the two nations, which have been heavily impacted by the conflict in Ukraine UA.