US and Russia Explore Post-War Business Deals, but No Agreement Has Been Reached
The United States and Russia are discussing possible post-war economic agreements covering oil, gas, aviation, titanium, fertilisers and other sectors, according to Ukrainian media. American officials say the projects cannot be implemented until the war ends, while President Volodymyr Zelenskyy warns that a diesel agreement could open the way to broader US-Russia arrangements involving fertilisers, gas, frozen assets and sanctions relief.
Key points
- No final agreement has been reached on the proposed US-Russia business projects.
- US officials say the discussed projects can only be implemented after the war ends.
- One proposal would revive a joint oil venture involving major US and Russian companies near Sakhalin.
- Another would involve US companies in restoring Russian oil shipments to Europe through the Druzhba pipeline.
- Volodymyr Zelenskyy said the diesel agreement could lead to new deals on fertilisers, gas, frozen assets and sanctions relief.
- ExxonMobil, the only US company involved in the Sakhalin-1 project, said last year it did not plan to resume activity in Russia.
- A bipartisan group of 12 US senators asked Donald Trump to cancel the diesel agreement with Vladimir Putin.
Why it matters
The proposals could reshape US-Russia economic ties and sanctions after the war. They involve energy and industrial arrangements with potential consequences for European supplies and US companies, while linking economic normalisation to a broader peace settlement. Ukrainian officials and members of the US Congress have warned that sanctions relief and market access could come before a durable end to the war.
What happened
Washington and Moscow are discussing possible post-war business agreements in several sectors. One option would revive a joint oil venture near Sakhalin with major American and Russian companies, while another would bring US firms into the restoration of Russian oil shipments to Europe through the Druzhba pipeline. Other proposals under discussion include access for US airlines to Russian airspace, cooperation in titanium production, an LNG project in Alaska involving Novatek, resumption of gas supplies to Europe through Nord Stream, and possible sale of Lukoil's international assets to investors linked to the White House. A broader arrangement would ease sanctions on potash fertilisers and their export through Baltic ports, which would require the EU to lift relevant restrictions. US officials stress that none of the projects can be implemented before the war ends, and Ukrainian reporting says Ukraine and Europe are not directly involved in the business discussions. Volodymyr Zelenskyy said the recently concluded diesel agreement could open the way to further US-Russia deals.
How Ukrainian sources describe it
Ukrainian coverage foregrounds Zelenskyy's warning that a diesel agreement could open the way to further US-Russia arrangements involving fertilisers, gas, frozen assets and sanctions relief. It presents economic normalisation as a possible short-term mechanism for influencing Moscow and stresses Ukraine's exclusion from direct US-Russia business discussions. Ukrainian reporting also highlights the earlier stalled initiative and Ukraine's refusal to accept territorial concessions.
How international sources describe it
The coverage emphasises the potential scale of the proposed economic package, including a joint oil venture near Sakhalin, shipments through Druzhba and Nord Stream, aviation overflight access, titanium cooperation, fertiliser exports and an Alaskan LNG project. It distinguishes discussions from completed agreements and repeatedly notes that the projects depend on the war ending. International reporting also highlights corporate caution, including ExxonMobil's statement that it did not plan to resume activity in Russia, and political opposition in the US Congress to the diesel agreement.
Where reporting differs
The reported value of the potential projects is given both as 14 billion dollars and as 14 trillion dollars. There is also a difference in sequencing: Washington says full economic normalisation is possible only after the war ends, while Moscow is reported to view the business proposals as a way to begin normalising relations beforehand.
Background
Earlier business proposals were halted after Ukraine rejected Russian demands for territorial concessions as a condition for negotiations. US officials also discussed with Ukraine a post-war economic framework for long-term growth and investment. The current proposals build on discussions involving Steve Witkoff, Jared Kushner and Kirill Dmitriev during peace-plan talks at the end of 2025. Kirill Dmitriev estimated the potential value of the projects in February.