Kremlin spokesperson: Russia, US have no joint economic projects for now

Russia and the United States currently have no joint economic projects, and it remains uncertain whether cooperation will resume before the conflict in Ukraine is resolved, Kremlin spokesman Dmitry Peskov said.

Speaking to Izvestia, Peskov said the two countries would benefit from restoring trade, economic and investment ties as soon as possible.

“The logic of development suggests that trade, economic and investment cooperation must be resumed as soon as possible,” Peskov said.

However, he noted that U.S. officials, including Treasury Secretary Scott Bessent, had indicated that a resolution to the Ukraine conflict would need to come before broader economic cooperation could resume.

“But we have heard statements from Mr Bessent, and at other levels too, to the effect that, so to speak, a resolution must come first, and then cooperation. Well, we shall see how the situation develops,” Peskov said.

He said Moscow understood that renewed economic ties could benefit both countries but acknowledged that there were currently no mechanisms in place for such cooperation.

“There is an understanding that the resumption of trade and economic cooperation between the Russian Federation and the US will bring many benefits to both sides, but there are no mechanisms for cooperation as yet,” he said.

Peskov also expressed support for U.S. efforts to help resolve the Ukraine conflict, saying Moscow hoped Washington’s diplomatic initiatives would produce results.

“There is no cooperation with the Americans at present. Let us proceed on that basis. There are American peace-building efforts – for which we are very grateful – which are continuing and have now been stepped up again,” he said.

“We sincerely hope that these efforts will bear fruit,” Peskov added.