Putin’s key investment negotiator heads to Washington for talks with Trump envoy, sources say

Kirill Dmitriev, the chief of Russia’s sovereign wealth fund, who was appointed by President Vladimir Putin as special investment and international economic envoy, will meet with U.S. special envoy Steve Witkoff, one source said, speaking on condition of anonymity.

Another source said that Dmitriev will meet Witkoff on Wednesday.

Their meeting was reported earlier by CNN, which said Dmitriev and Witkoff will hold talks about strengthening relations between the two countries as they seek to end the war in Ukraine.

“Maybe. The resistance to US–Russia dialogue is real—driven by entrenched interests and old narratives,” Dmitriev said in a post on X responding to the CNN report.

“But what if improved relations are exactly what the world needs for lasting global security and peace.”

The White House and the U.S. Department of State did not immediately provide comment. The Russian Embassy in Washington did not immediately respond to a request for comment.

Dmitriev’s trip comes as Trump is seeking to meet with Putin soon to work on mending damaged relations and follows recent telephone calls between the two leaders that also focused on reaching a peace deal for Ukraine.

But as Trump appears to be growing increasingly impatient with what he has suggested might be Moscow’s foot-dragging over a wider Ukraine peace deal and saying he was “pissed off” with Putin, Dmitriev’s tip may also de-escalate some of the tensions.

After being hit by Western sanctions over its invasion of Ukraine and capitalizing on Trump’s comments about repairing relations, Russia is keen to bring back international investors to diversify its economy driven chiefly by the war in the past three years.

As Dmitriev is still under U.S. sanctions, CNN reported that the Trump administration temporarily lifted the sanctions for his visit.

Dmitriev, considered the most U.S.-savvy member of Russia’s elite, has said earlier this week that the two countries have already started talking a joint rare earth metals project, among other deals.

Putin suggested in February that the United States might be interested in exploring joint exploration for the deposits in Russia. Russia has the world’s fifth-largest reserves of the metals used in lasers and military equipment.

Russia has also been keen to attract investors to help develop its Arctic region, Dmitriev said last week. Putin wants commerce ramped up via the Northern Sea Route through Arctic waters as Russia shifts trade towards Asia and away from Europe because of Western sanctions.

Focus on the strategic importance of the Arctic for mining, shipping and international security has increased sharply because of repeated statements by Trump that he wants to acquire Greenland.

Reporting by Gram Slattery and Jasper Ward; Writing by Jasper Ward and Lidia Kelly; Editing by Chris Reese, Cynthia Osterman and Michael Perry

Gram Slattery is a White House correspondent in Washington, focusing on national security, intelligence and foreign affairs. He was previously a national political correspondent, covering the 2024 presidential campaign. From 2015 to 2022, he held postings in Rio de Janeiro, Sao Paulo and Santiago, Chile, and he has reported extensively throughout Latin America.

Jasper Ward is a breaking news reporter in Washington. She primarily covers national affairs and U.S. politics. Jasper was previously based in The Bahamas where she covered the collapse of FTX and the subsequent arrest of its founder Sam Bankman-Fried. She was a part of the Reuters team that won the Gerald Loeb Award for breaking news for its FTX coverage.