Russia may be reconsidering a return to the US dollar as part of a broader economic partnership framework with Washington, according to a Bloomberg report citing an internal Kremlin document.
The memo, circulated among senior Russian officials this year, outlines seven areas where Moscow believes its interests could align with the Trump administration — contingent on a potential agreement to end the war in Ukraine.
Among the most striking proposals: resuming dollar-denominated settlements, a move that would reverse years of policy under President Vladimir Putin aimed at reducing reliance on the US currency and strengthening financial ties with China.
From De-Dollarisation To Re-Engagement?
Since the 2022 invasion of Ukraine, sweeping Western sanctions — enforced largely through the dollar-dominated financial system — pushed Russia to expand trade in alternative currencies, particularly with China and India.
A return to dollar transactions would mark a dramatic shift, effectively placing Russia back within Washington’s financial orbit.
US officials have previously indicated that sanctions relief could be phased in as part of a peace settlement. However, the Kremlin document reportedly goes further, proposing deeper economic cooperation.
According to the memo, potential US–Russia collaboration could include:
Long-term aviation agreements to modernise Russia’s aircraft fleet with possible US manufacturing involvementJoint oil andLNGprojects, including offshore and complex reservesPreferential conditions for US firms re-entering Russia’s consumer marketNuclear energy collaboration, including AI-linked projectsResumption of dollar settlements, including in energy tradePartnerships in critical minerals such as lithium, copper, nickel and platinumPromotion of fossil fuels over low-emission energy approaches
The document argues that rejoining the dollar system would help stabilise Russia’s foreign-exchange market and reduce balance-of-payments volatility.
Source: India Latest News, Breaking News Today, Top News Headlines | Times Now
