Reverse connection: Russian business resumes dialogue with the USA and Europe

The domestic business is resuming cooperation with the USA and Europe. Former Greek Finance Minister Yanis Varoufakis, founder and ex-CEO of Moven, the world's first neobank, Brett King, and a number of other Western speakers will speak at the April conference for traders in Moscow. The participants of this event, which will include representatives of the Russian authorities, will discuss options for the transformation of the global and Russian economies in modern conditions. Earlier, the head of the American Chamber of Commerce in our country informed Izvestia that a Russian-American business dialogue is planned for SPIEF 2026. Whether it is possible to talk about the gradual return of international cooperation and what projects are possible now between Russia and the West — in the material of Izvestia.

Is cooperation between Russian companies and the West resuming?

In early April, the Russian capital will host the intensive TOLK-2026 forum, which will discuss financial market issues and economic transformation. Several Western speakers have already confirmed their participation in the event.

So, at one of the parts of TOLKa, the TOLK PRO conference for traders and investors, former Greek Finance Minister Yanis Varoufakis will present his view on the future of the world order. Jack Schwager, the best-selling author of the stock market Wizards, will tell you how to distinguish a good deal from a bad one and choose the right moment to enter.

Brett King, the founder and ex-CEO of Moven (the world's first neobank, a digital credit institution without physical branches that appeared in 2011 and operates exclusively through a mobile application or website), the author of the bestseller Bank 4.0, will also come to Moscow. He will take part in a discussion on how artificial intelligence (AI), augmented reality and automation will transform the economy, banking and everyday life in the next 20 years. And futurist economist and author of the book "AI Apocalypse" Bronwyn Williams will explain the changing values of freedom and agency with the help of AI.

Representatives of the Russian authorities will also be present at the forum. Deputy Finance Minister Ivan Chebeskov, Deputy Chairman of the Central Bank Olga Polyakova, member of the Board of Directors of the Bank of Russia, Head of the Consumer Protection and Financial Services Accessibility Service of the Bank of Russia Mikhail Mamuta and Chairman of the State Duma Committee on Financial Market Anatoly Aksakov are expected to speak at the sessions.

The presence of Western speakers at major Russian business venues is already a signal to the market, said Igor Rastorguev, a leading analyst at AMarkets. So far, these are point stories, but it is from them that the system work begins.

The head of the American Chamber of Commerce in Russia, Robert Agee, told Izvestia earlier that a Russian-American business dialogue is planned at the St. Petersburg International Economic Forum (SPIEF), which will be held on June 3-6. According to him, the topics are currently being finalized, however, most likely, the parties will discuss the possibilities of cooperation between the companies, as well as new models of cooperation.

After the return of US President Donald Trump to office, Washington and Moscow gradually began to explore the possibilities of economic cooperation. In addition, Kirill Dmitriev, the special representative of the President of Russia for investment and economic cooperation with foreign countries, the head of the Russian Direct Investment Fund, regularly holds consultations with the Americans. One of the last was a meeting in Miami on March 12.

However, it is too early to talk about a full-fledged restoration of relations between Russia and Western countries, said Alexey Begaev, founder of the Insek Group of companies. There is still a situation of confrontation, but at the business level, possible points of interaction are already being tested. According to experts, Russia is always open to negotiations because isolation does not benefit economic development.

Cash interest: business from the USA is ready to come to SPIEF 2026

In what areas is bilateral cooperation possible?

How to resume dialogue between Russian and Western companies

The main condition for large—scale cooperation is the lifting of sanctions, and it directly depends on the settlement of the Ukrainian conflict, said Igor Rastorguev from AMarkets. That is, the fundamental question now is whether restrictions will begin to be lifted from Russia itself and when this will happen, said Mikhail Nikitin, head of International Business and Finance practice, partner at 5D Consulting.

Now this is happening on a point—by-point basis - an oil license against the background of the Middle East crisis, and individual allowances for settlements. But this is exactly the real criterion for the thaw, the expert added.

— The Russian Federation and the United States objectively need each other: the American agricultural industry needs our fertilizers, the energy industry needs oil from the Russian Federation at reasonable prices, and the financial sector needs normal access to the market of 145 million consumers. Our interest is symmetrical — technology, investment, and the removal of barriers to settlement," explained Mikhail Nikitin.

Vienna, Madrid and Rome are among the European partners ready for dialogue with Moscow, Igor Rastorguev noted. For example, the Italian manufacturer of Ariston water heaters regained control of Russian assets in 2025 after the temporary management was lifted. And the Spanish company Inditex, which owns large chains of Zara, Massimo Dutti, Bershka, Oysho, Pull & Bear, Stradivarius stores, is negotiating the possible reopening of outlets in Russia. In addition, the Austrian banking group Raiffeisen Bank International continues to operate in the country, making a significant portion of its profits in the Russian market, despite previous statements about plans to leave the market.

According to Eurostat, the trade turnover between Russia and the European Union in 2025 amounted to 57.9 billion euros, recalled Andrei Glushkin, a member of the council of the MRO Delovaya Rossiya. This is much lower than it was before the start of the special operation in 2022 (more than 160 billion euros), but the figure is still large.

— Russia remains the largest supplier of fertilizers to Europe for the fourth year in a row. In 11 months of 2025, European countries purchased them for €1.52 billion, which is a record since 2021. Moreover, Poland, which screamed loudest about breaking with Moscow, acquired the most — by € 555 million," the expert noted.

Energy resources and the sales market are important for Western Europe, while the Russian Federation needs technologies in areas where there is a gap, as well as stable and understandable settlement mechanisms, Igor Rastorguev explained.

A new round of armed conflict in the Middle East has exposed the vulnerability of the global energy market, said Alexander Arsky, Associate Professor of Logistics at the Financial University under the Government of the Russian Federation. Today, any guarantees of energy security can only be in the format of long-term contracts. In addition, our country has a powerful gas transportation pipeline system, and today there are LNG gas carriers capable of providing Europe with fuel from the Russian Arctic, the specialist added.

Energy cooperation will be key to the stabilization of political relations, Alexander Arsky noted. In addition, Europe needs fertilizers and metals, which will allow industry and the agricultural sector to keep Europeans in jobs.