Russia and US Begin Re-engagement: Is There a Behind-the-Scenes Deal?

Russia and the United States are identifying opportunities to rebuild relations within the financial sector, even as the connection between the two nations remains overshadowed by geopolitical conflict. Russian Finance Minister Anton Siluanov stated that economic dialogue could serve as an entry point to easing political issues.

In a report by Interfax on Wednesday (2/9/2026), Siluanov revealed this following a meeting with US Treasury Secretary Scott Bessent on the sidelines of the G20 finance leaders’ conference in North Carolina on Monday.

“Both sides agree that there are reasons to develop financial relations, despite the complications,” Siluanov said, as quoted by Interfax.

This meeting marked the first encounter between Siluanov and Bessent. Siluanov noted that officials from the financial sector can sometimes find common ground more quickly than politicians.

“Therefore, we must always continue to talk; we need to maintain the dialogue,” Siluanov remarked. According to him, Russia and the US need to develop existing shared interests so that discussions regarding political issues can become easier.

“If we find strong points of common interest—and they do exist—we need to develop them. Then political problems will also be easier to resolve,” he added.

However, these opportunities still face significant hurdles related to the Russia-Ukraine war. Reuters previously reported that a source familiar with the meeting between Siluanov and Bessent stated that Bessent emphasised that economic aid to Russia, or agreements regarding other issues, would be impossible until the war in Ukraine ends.

Consequently, although Russia sees space to re-strengthen financial ties with the US, Washington continues to link further economic steps to the resolution of the war in Ukraine.