When the killing stops, the economic cooperation between the nuclear superpowers will flourish.
Beyond the urgent need to put a stop to the bloodiest military conflict since WW2 that is unfolding in Ukraine, the rapprochement between the US and Russia is also filled with geopolitical and economic possibilities.
Here in TGP we have been reporting on these opportunities, as you can read on PEACE AND PROSPERITY: Putin’s Special Envoy Says Talks Are Ongoing on US-Russia Economic Cooperation, Including a Mineral Agreement for ‘Rare Earth’ Joint Exploration.
So, while the peace process may progress slowly, reports arise that business ties are already being privately rebuilt.
American and Russian biggest energy companies are setting up a plan to go back into business, exploring offshore oil-and-gas fields on Russia’s far-east coast.
Wall Street Journal reported:
“In secret talks with Russia’s biggest state energy company this year, a senior Exxon Mobil executive discussed returning to the massive Sakhalin project if the two governments gave the green light as part of a Ukraine peace process, said people familiar with the discussions.
Such is the sensitivity that only a handful of people at Exxon knew the talks had taken place. One of the U.S. oil major’s top executives, Senior Vice President Neil Chapman, led the talks on the Exxon side.”
The dialogue between President Putin and President Trump will change the world—and enable global security and prosperity. pic.twitter.com/sjcCYhRBTv
— Kirill A. Dmitriev (@kadmitriev) August 26, 2025
Exxon executives have reportedly asked the U.S. government for support to go back to Russia, with CEO Darren Woods recently discussing a possible return with President Donald J. Trump at the White House.
“Resuming business in Russia would mark a dramatic rapprochement after Exxon’s messy breakup with Moscow when Putin attacked Ukraine in 2022. The West’s biggest oil producer dived deeper into Russia than most other companies after the fall of the Soviet Union. Its retreat after the invasion was correspondingly more acrimonious.
Sakhalin-1, named after a Russian island near the three oil fields, was one of Exxon’s biggest investments, first agreed in 1995. Exxon ran the venture, and owned 30% alongside state-owned Rosneft as well as Japanese and Indian companies, which are still there.”
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