US and Russia Discuss Major Business Deals Alongside Peace Diplomacy
According to Reuters, US and Russian officials are discussing possible deals involving Lukoil's assets and American investor participation in the Nord Stream project. Any such deals would require overcoming sanctions and political obstacles.
While diplomatic efforts to find a solution to Russia's war in Ukraine continue, US and Russian officials are also discussing large-scale economic projects. Reuters reports that the talks have covered the overseas assets of the Russian oil company Lukoil, as well as possible participation by American investors in the Nord Stream gas pipeline project.
Lukoil assets
The possible deal was previously reported by The New York Times. It concerns a portfolio of assets held in several countries, including oil fields, refineries and fuel stations. Approval from both the US government and the Kremlin would be needed for a deal to go ahead.
Talks on Lukoil have reportedly been under way for several months. According to The New York Times, Vladimir Putin discussed the matter in September with US President Donald Trump's special envoy Steve Witkoff and Trump's son-in-law Jared Kushner. Investors from the United States and the Middle East are named among potential buyers. The newspaper said it had found no signs that Witkoff or Kushner would personally profit from a deal.
Nord Stream
The discussions also touch on the Nord Stream pipelines, which once carried Russian natural gas to Europe. Officials have talked about involving an American investor, which could potentially create conditions for restoring the pipelines' operation. Sanctions and opposition from several European countries, Germany in particular, stand in the way.
Reuters says the talks are taking place between senior US and Russian representatives, including members of Trump's team and Russian negotiator Kirill Dmitriev. The agency stresses that an agreement is by no means guaranteed and that restarting the pipelines has not been decided.
Impact on peace talks
The possible deals raise questions about how economic cooperation could affect the broader negotiations to end the war in Ukraine. The projects under discussion suggest that, alongside political issues, economic interests are taking up a growing place in the talks. Such options are linked to the idea that business interests could help lay the groundwork for a wider agreement.
