Russia memo sees return to U.S. dollar system in pitch made for Trump

The Kremlin has set out proposals that could see Russia embrace the dollar again as part of a wide-ranging economic partnership with the Trump administration, according to an internal Russian document reviewed by Bloomberg. Article content

The high-level memo, which was drafted this year, details seven points where, in the Kremlin’s view, Russian and United States economic interests could converge following a deal to end the war in Ukraine. It sees the two countries working together to champion fossil fuels over greener alternatives as well as joint investments in natural gas, offshore oil and critical raw materials plus windfalls for U.S. companies.

The proposal, which was circulated among senior Russian officials, provides previously unreported insight into Kremlin thinking and tactics at a moment when potential economic agreements between the U.S. and Russia are being negotiated as a key plank of any future peace accord for Ukraine.

At the heart of the offer is Russia’s return to the dollar settlement system, a move which would mean a stunning reversal of Kremlin policy and, potentially, a dramatic shake up for global finance. Article content

The U.S. has already proposed gradually lifting sanctions on Russia as part of any peace agreement, a necessary first step for the country to start transacting in dollars again. But what the Kremlin memo considers would go far further.

Being Bloomberg News' Alberto Nardelli, the Financial Post placement is merely furthering the messaging. When President Trump and members of his team officially announce this, I will think it something more than speculation.

"...according to an internal Russian document reviewed by Bloomberg" is the key. Later "...asking not to be identified when discussing a private document."

Mister Anonymous is quite the chap..... So often full of cra.....

from a random email I got today.

So we’re asked to believe that:

A country whose sovereign reserves were frozen to the tune of about 300–350 billion dollars is eager to re-enter the same settlement system.

A state that has already shifted the bulk of its flagship trade flows into non-dollar currencies will reverse course for the sake of “windfalls for US companies.”

A leadership that openly frames de-dollarisation as strategic self-defense will volunteer to put its neck back under the same financial guillotine.

Doesn’t make any sense—because it isn’t meant to. This is not analysis; it’s narrative management. Strip away the glossy headlines and it boils down to Bloomberg and its echo chamber doing damage control on behalf of a system that can feel the ground shifting under its feet.

There is no realistic chance of a clean “normalisation” of US–Russia relations in the near term, let alone a starry-eyed return to dollar dependence from a state that has just been taught, in the harshest possible way, what dollar dependence really means.

If anything, every such story only underlines the desperation: you don’t publish fan fiction about your adversary returning to your currency empire unless you’re worried they won’t

Putin has said, in multiple public appearances, that Russia is at war with the U.S. dollar, which he associates with Satanism, sorcery, pedophilia, and psychic mutilation; by that logic, the toxic orbit of the dollar is Ground Zero for the very demonology he’s ranting about.

The greenback isn’t a currency; it’s a cursed talisman powered by derivatives, deficit heroin, and weaponized sanctions—an occult ritual of debt slavery dressed up as “global finance.”

For Moscow to crawl back into that would be like performing an exorcism and then inviting the demon to move into the guest room. Zero chance. You don’t denounce Hell on Sunday and then peg your lifeline to Lucifer’s balance sheet on Monday.

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