October 17, 2026
Moscow and Washington are preparing to announce a package of new joint economic initiatives, the most prominent of which are projects to establish data centers powered by mini-nuclear energy. These developments came in the wake of concluding an agreement to supply Russian diesel last week, according to what the Russian President’s envoy for investment affairs, Kirill Dmitriev, announced on Friday.
Dmitriev explained, during his participation in the “Russian Energy Week” conference in Moscow, that the two sides are discussing new horizons for economic cooperation, pointing to the discussion of joint projects for data centers that bring the two parties together and rely on small-sized nuclear power plants, without revealing more technical details.
In the same context, the Russian official pointed out that US sanctions still represent a major obstacle to cooperation, criticizing the “Graham Law” signed by US President Donald Trump last month, and describing it as “misleading,” given its targeting of Russian energy revenues through the system of sanctions and customs duties.
Dmitriev, who is considered a central figure in the bilateral discussions on ending the war in Ukraine, is leading tireless efforts to push for ambitious strategic deals between the two countries, especially in the minerals and energy sectors.
Although the Kremlin expressed its reservations about Washington’s insistence on linking these agreements to achieving a peace settlement in Ukraine – a goal that seems far-fetched so far – Dmitriev expressed optimism that this approach would change, saying: “Of course, making progress is extremely difficult and there is widespread resistance from various quarters, but, as the example of the diesel deal shows, I believe that we will soon announce other important initiatives; the ice is already beginning to melt.”
He added: “We are actually implementing joint projects with the United States at this very moment, and we will continue to do so until the special military operation ends,” using the official term used by the Kremlin to refer to the war in Ukraine.
In the same context, Dmitriev revealed that the US Treasury Department asked the Russian sovereign wealth fund, which he heads, to provide assistance to resolve financial complications related to payments for the diesel deal.
It is noteworthy that US President Donald Trump had announced the diesel agreement a week ago, which stipulates the supply of Russian diesel to the American and global markets for the purpose of reducing prices, in a step that constitutes a top priority for the US administration ahead of the midterm elections scheduled to be held next month.
