Moscow Proposes Return to Dollar Settlements in Broad US Economic Pact, Signaling Potential Rift with Beijing
In a significant geopolitical pivot that could reshape the global economic order, the Kremlin has reportedly drafted a comprehensive proposal to settle future economic deals with the United States in US dollars. The move, outlined in internal documents and confirmed by diplomatic sources, is part of a broader framework for renewed economic cooperation centered on joint energy initiatives and investment opportunities.
The proposal, which some analysts are calling a “reverse Nixon” strategy, explicitly aims to realign Russian economic interests with the West, potentially pulling Moscow away from its deepening “no limits” partnership with Beijing. This shift mirrors the Sino-Soviet split of the Cold War era, where the United States successfully courted China to isolate the Soviet Union.
The “Dmitriev Package” and Energy Cooperation
According to reports citing a leaked Kremlin memo, the proposal—dubbed the “Dmitriev Package” after Kirill Dmitriev, head of Russia’s sovereign wealth fund—outlines specific areas where US and Russian interests could converge. The plan envisions a return to the US dollar for bilateral trade settlements, a stark departure from Russia’s recent efforts to “de-dollarize” its economy in favor of the Chinese yuan.
The core of the proposal focuses on the energy sector, offering US companies privileged access to vast Russian resources. Key elements include:
Joint Arctic Development: Cooperation on fossil fuel extraction in the Arctic region, favoring traditional energy sources over renewable alternatives.
Strategic Investments: Opportunities for American firms to invest in Russian natural gas projects and offshore petroleum fields, potentially including the Sakhalin-1 project, from which Western majors exited following the 2022 invasion of Ukraine.
Critical Minerals: Shared access to rare earth metals and other strategic minerals essential for high-tech manufacturing, reducing US reliance on Chinese supply chains.
Ukrainian President Volodymyr Zelensky, who recently claimed intelligence services had intercepted details of the deal, stated the package could be worth up to $12 trillion. He warned that such an agreement would effectively bypass Kyiv’s interests while strengthening Russia’s economic resilience.
A Geopolitical Realignment
The proposed shift to dollar settlements is viewed by experts as a calculated signal to Washington. By offering to reintegrate into the dollar-based financial system, Moscow is presenting an economic olive branch that appeals to American interests in maintaining the dollar’s status as the global reserve currency.
“This is a classic balance-of-power play,” noted a senior analyst at a Washington-based think tank. “Russia is signaling that its alliance with China is transactional, not ideological. If the US can offer sanctions relief and economic integration, Moscow is willing to hedge against Beijing’s growing dominance.”
The potential deal faces significant hurdles, primarily the extensive web of Western sanctions currently in place. However, the proposal suggests that the Kremlin is preparing for a post-conflict landscape where it seeks to balance its dependence on China by reopening channels to Western capital and technology.
If realized, the agreement would mark a dramatic reversal of the last decade of Russian foreign policy, effectively isolating China and creating a new axis of economic cooperation between the world’s two largest nuclear powers.
* eurasiantimes.com
* mining.com
* aa.com.tr
* pravda.com.ua
* investing.com
* washingtonpost.com
* wunc.org
* discoveryalert.com.au
