April 4, 2025
Russian President Vladimir Putin’s investment envoy, Kirill Dmitriev, visited Washington at the beginning of March. He is the highest Russian official who has traveled to the USA since bilateral diplomatic contacts were suspended in 2022 by Washington.
Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), participated in the Russian-US talks in Riyadh on February 18, 2025 where both sides agreed to start gradually normalizing their relations severed by the Biden administration. RDIF has been set up a decade ago with the US $10 billion portfolio. It ranks as Russia's sovereign fund.
During his visit he met with Trump’s Middle East envoy, Steve Witkoff, and had talks with Republican Senators Lindsey Graham and Markwayne Mullin.
Speaking to reporters on March 3 in the USA, Dmitriev noted that US President Donald Trump and his team have a better understanding of Russia’s stance than his predecessor President Joe Biden.
Different countries are trying to derail this dialogue, derail the restoration of the Russian-American relations,” Dmitriev told reporters. “A lot of people are interested in preventing the development of our relations. We are seeing a coordinated campaign in the media, attempts by various politicians to undermine the relations between Russia and the USA, and attempts to distort the statements made by Russia,” the envoy said. “It happens on a daily basis.”
In his view, Moscow is seeing absolutely clearly that, unlike President Biden, the Trump administration is determined to resolve the whole spectrum of bilateral issues. Dmitriev noted that the US leaders are very respectful, understanding Russia’s concerns and are finding compromises. “Naturally, there are differences. But there is dialogue, which we believe will help to overcome these differences,” Dmitriev said.
He added that the sides have addressed potential cooperation in the Arctic and the development of rare-earth minerals. “We are actively working on the resumption of direct air flights” between Russia and the USA, he noted. Dmitriev announced that he had discussions about restoring trade and normal business relations between the two sides. “Many American companies would like to replace European companies that have left Russia,” he said, adding that Moscow is ready to work on business projects that would be beneficial to both countries.
Dmitriev said that more rounds of talks will be needed to hammer out the deal
Russia was excluded from President Donald Trump’s sweeping new tariffs because existing US sanctions have already severely restricted trade between the two countries, Treasury Secretary Scott Bessent has said. In Russia’s case, he emphasized that the sanctions are already doing the work that tariffs would. Vladimir Putin recently announced that the USA has imposed more than 28,000 different sanctions on Russia.
Speaking to Fox News following the announcement of broad import duties, Bessent explained that Russia, along with Belarus, Cuba, and North Korea, was not targeted under the new measures as the USA does not trade meaningfully with these countries. E.g. Russian-US trade turnover fell to symbolic $3.5 billion in 2024.
Besides not resolved the direct flights issue, Washington has not returned to Russia six diplomatic and administrative buildings located in the USA taken away from it during the Biden administration in violation of the Vienna Diplomatic Convention.
Russian experts underline that despite the ‘energy truce’ reached between Moscow and Washington on March 18, 2025, former Ukrainian president Volodymir Zelensky has violated it 35 times since March 18 till April 4, while Russia is still committed to it. Russian experts also mention that Washington does not criticize Zelensky for neglecting the ‘energy truce’ by 100 percent.
