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The Economist
The Economist
21 Feb 2025


NextImg:From Wall Street banker to Vladimir Putin’s point man
Europe | Weekend profile

From Wall Street banker to Vladimir Putin’s point man

Kirill Dmitriev, boss of a Russian state investment fund, wants Donald Trump to cut a deal

AS THE MEETING came to an end, it looked less like a peace parley and more like a business negotiation. On February 18th, when the Kremlin’s men met Donald Trump’s diplomats in Saudi Arabia, Kirill Dmitriev set out (perhaps exaggerated) numbers. American companies, he said, had lost $324bn by leaving Russia after the start of the war in Ukraine. Why not come back? Mr Dmitriev touted opportunities for American firms and bigged up Moscow’s restaurant scene. His message found receptive ears. Marco Rubio, America’s secretary of state, enthused about the “historic economic and investment opportunities” of a peace deal. Mr Dmitriev praised Mr Trump for starting a “constructive conversation”.

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