Bloomberg: Russia Has Developed A "stunning Idea" For The US On The Dollar

• 12.02.2026, 21:26

The Kremlin has prepared a "high-level" memorandum.

The Kremlin is considering a proposal to return to settling in dollars as part of a broad economic partnership with the administration of U.S. President Donald Trump. This is according to a "high-level" memorandum prepared this year and circulated among senior Russian officials, Bloomberg reported. The agency said it was unclear whether Russia had proposed any U.S. points from the memorandum.

Russia's return to dollar-based settlements is one of seven points in the memorandum. Dollar settlements, according to the document, are proposed to be used, including for transactions with Russian energy carriers, the agency reports. The implementation of this and other proposals would mean "a stunning reversal of Kremlin policy and, potentially, dramatic changes in the global financial system," Bloomberg writes.

The United States is already discussing the phased lifting of sanctions as part of a peace deal, Bloomberg writes. So far, however, Moscow has been betting on finding alternatives to the dollar and rapprochement with China. Therefore, Western officials familiar with the document consider it unlikely that Russian President Vladimir Putin will eventually make a deal with the United States that runs counter to Beijing's interests, the agency reports.

Bloomberg writes that the document also outlines areas where the economic interests of Russia and the United States could coincide after the settlement of the war in Ukraine.