Russia ready to do business with US if trade is delinked from Ukraine

The Kremlin made clear on Wednesday that Moscow is open to expand economic ties with the United States -- but only if it stops linking trade ties with a Ukraine peace deal. Speaking during his daily briefing with reporters, Kremlin spokesman Dmitry Peskov said Russia sees potential for a joint investment and trade projects with the US, despite years of sanctions and long-running tensions triggered by the Ukraine conflict.

"To the extent that the American side is willing to delink the prospects for normalising trade and economic relations from a Ukrainian settlement, or to the extent that a Ukrainian settlement occurs, then we hope the path to the implementation of a whole range of economic projects will be open," Peskov said.

The Kremlin’s comments come as both Russian President Vladimir Putin and US President Donald Trump have recently indicated that momentum may be building toward some form of eventual settlement in Ukraine. Russia remains under sweeping American sanctions imposed after the full-scale invasion of Ukraine in 2022. Those restrictions have sharply reduced trade, investment and financial cooperation between the two countries.

MOSCOW FLOATS POST-WAR BUSINESS OPENING

Still, Moscow appears eager to signal that economic opportunities could quickly return if political conditions shift. Peskov said Russia and the US have "promising mutually beneficial cooperation projects" in investment and trade sectors, though he did not provide specific details.

Putin has previously floated the possibility of joint US-Russia projects involving Arctic mineral reserves and energy development. He has also discussed potential cooperation in Alaska, reviving ideas rarely heard since the Cold War.

Meanwhile, Kirill Dmitriev, Putin’s investment envoy and a key figure in contacts with Washington, recently proposed a "Putin-Trump" rail tunnel beneath the Bering Strait that would link Russia and the US.

KREMLIN REPEATS HARDLINE UKRAINE TERMS

Despite the softer economic messaging, the Kremlin showed little sign of backing away from its core demands on Ukraine. Peskov reiterated conditions first outlined by Putin in June 2024, including the withdrawal of Ukrainian forces from territory that Russia claims to have annexed.

He also said that any ceasefire would require Ukrainian President Volodymyr Zelenskyy to order troops to stop fighting and pull back from the Donbas region before negotiations could begin. Ukraine has repeatedly rejected those demands, calling them unacceptable and arguing that Moscow is effectively demanding surrender in exchange for peace talks.

Kyiv has refused to give up territory it continues to defend, while Western governments have continued backing Ukraine militarily and financially. Russia currently controls roughly one-fifth of Ukrainian territory.