Russian oligarchs initiate secret talks with US on post-sanctions projects
Russian oligarchs close to President Vladimir Putin — Yuri Kovalchuk, Gennady Timchenko, and the brothers Arkady and Boris Rotenberg — have initiated confidential discussions with the United States, positioning themselves for a post-sanctions era.
They are exploring future joint projects in Russia for the moment when sanctions will be lifted. According to sources from The Wall Street Journal (WSJ), representatives of these Kremlin allies proposed, in secret meetings, that US companies be given access to gas deposits, rare metals, and major energy assets in Russia, reports The Moscow Times.
These potential major concessions include gas areas in the Sea of Okhotsk and four other perimeters. Putin's friends also specifically mentioned the exploitation of rare metals near the Norilsk nickel deposits and in six unexplored regions of Siberia, offering access to strategic resources, the publication's interlocutors noted.
The discussions already involve major US figures. According to WSJ, Gentry Beach — a college friend of Donald Trump Jr. and a sponsor of his father's electoral campaign — held negotiations for a 9.9% stake acquisition in the "Arctic LNG" project from Novatek, a company partially owned by Timchenko.
Furthermore, Exxon Mobil Executive Vice President Neil Chapman met secretly in Doha, Qatar, with Rosneft head Igor Sechin. Their discussion centered on a possible return to the Sakhalin project; the American company had notably exited the Russian market following the start of the war in Ukraine.
Exxon, along with billionaire investor Todd Boehly and others, also explored the potential acquisition of assets belonging to Lukoil — Russia’s second-largest oil producer. Lukoil is currently under US sanctions after the October Budapest summit failed due to Putin’s refusal to implement a ceasefire in Ukraine.
Another key subject was the potential relaunch of the damaged "Nord Stream" gas pipeline, which is under EU sanctions. Sources indicate investor Stephen Lynch paid $600,000 to lobbyist Chase McDowell, an associate of Trump Jr., to help secure a US Treasury license for the acquisition of Nord Stream 2.
Major joint ventures — including "Nord Stream" and rare metal exploitation — were also debated at a closed meeting held in October at the Miami villa of White House Special Envoy Steve Witkoff. Attending the negotiations were Trump’s son-in-law, Jared Kushner, and Putin's special representative, Kirill Dmitriev.
Dmitriev proposed utilizing the frozen Russian assets, valued at 300 billion euros, as a financial basis for joint investments. These investments would span from Arctic exploration to the reconstruction of Ukraine under US administration. The ambitious ideas even included a joint mission to Mars featuring Elon Musk’s SpaceX, The Moscow Times highlights.
Translation by Iurie Tataru
