Bloomberg: Russia seeks return to dollar settlements for U.S. partnership

The Kremlin has prepared a memorandum proposing Russia’s return to dollar-denominated settlements as part of a broader economic partnership with the United States, Bloomberg reported, citing an internal document circulated among senior Russian officials.

A return to the dollar system — including energy transactions — is one of seven key points in the document. Such a move would represent a significant policy shift and could have implications for the global financial system.

The memorandum outlines potential areas of cooperation, including joint oil and liquefied natural gas projects, offshore development, collaboration in raw materials, nuclear energy and artificial intelligence.

It also mentions long-term aviation contracts and preferential terms for U.S. companies to re-enter the Russian market, while emphasizing support for fossil fuels as an alternative to the climate agenda.

Kremlin spokesman Dmitry Peskov declined to comment.