Kremlin Envoy Pitches $14 Trillion in Potential U.S.-Russia Projects - The Moscow Times
Moscow Times
February 19, 2026
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Kremlin envoy Kirill Dmitriev has revealed plans for potential U.S.-Russia joint projects valued at over $14 trillion, contingent on a peace agreement in Ukraine and the lifting of Western sanctions. Dmitriev, who also heads Russia’s Direct Investment Fund, shared this figure on X, emphasizing that these projects could span industries like rare-earth mining, Arctic oil and gas development, and even infrastructure initiatives such as a transcontinental tunnel between Alaska and Russia. This $14 trillion estimate exceeds the $12 trillion figure mentioned earlier by Ukrainian President Volodymyr Zelensky, whom Dmitriev accused of spreading “fake news.”
The proposal highlights Moscow’s interest in rekindling economic ties with the U.S., particularly through American companies eager to return to the Russian market. Kremlin spokesman Dmitry Peskov confirmed that Russia is actively exploring cooperation in economic affairs but stressed that any meaningful progress depends on resolving the conflict in Ukraine. The idea of restoring Russia’s access to dollar-based settlement systems was also floated as part of a broader economic partnership, though specifics remain unclear.
The $14 trillion figure has drawn skepticism, with some analysts calling it “hyperbole” aimed at influencing U.S. President Donald Trump. Critics note that the projected revenue far exceeds Russia’s annual GDP, which stands around $2 trillion. Dmitriev, however, argues that lifting sanctions would benefit both countries, citing American business losses of over $300 billion due to restrictions. This proposal underscores the Kremlin’s dual focus: leveraging economic cooperation as a tool for diplomacy while addressing the financial fallout from Western sanctions.
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Originally published on Moscow Times on 2/19/2026