The USA and Russia are moving closer together. Russian soil treasures could help Trump. The US economy does not need exports to Russia, but this could weaken China.
If you are looking for McDonalds branches in Russia, you are looking for in vain. The US group sold its restaurants there. No individual case: Many US companies have withdrawn from Russia after the attack on Ukraine. Or had to withdraw – because of the sanctions imposed.
In recent years, trade between Russia and the United States has almost come to a standstill. However, according to reports from the New York Times, that could change soon. According to them, the Russian delegation in discussions with Donald Trump emphasized that US companies could earn billions if they did business in Russia again.
“Why do you do without the possibilities?”
In the New York Times, for example, the head of the Russian state fund, Kirill Dmitrijew, is quoted. He then expects US oil companies to return to Russia this year. “We believe that they will come back at some point, because why should they do without the possibilities that Russia gave them to gain access to the Russian mineral resources?” Said Dmitrijew according to New York Times.
The Moscow Times reports that Russia had offered the Trump government an agreement on Russian mineral resources and access to the Arctic. These important Russian soil treasures also include enriched uranium for the operation of nuclear power plants. Russia is one of the most important suppliers worldwide. Since the United States has a lot of nuclear power plants, but hardly enrich uranium itself, they are dependent on Russia.
Russian uranium coveted goods
According to the US statistics authority Census Bureau, the USA bought as much uranium from Russia in 2022 until Russia introduced an export ban to the USA at the end of last year. Since Trump wants to raise nuclear power again in the United States, he and the entire industry should be interested in trade in Russia.
The Austrian political scientist Gustav Gressel also assesses the rapprochement between Russia and the USA to the Frankfurter Allgemeine Zeitung: “Because of what comes to light that the Russians offer the Americans an energy partnership, I think they have found the vulnerability in the Trump administration: Economic advantages.”
Russia for the USA as an export goal is hardly interesting
Julian Hinz, trading expert and professor of international economics at the University of Bielefeld, does not believe that Trump has an economic interest in Russia: “Russia plays economically no matter for the United States. The United States is more exporting to Peru or the Dominican Republic than Russia.
The political scientist Alexander Libman from the Free University of Berlin, born in Moscow, also doubts that Trump is looking for economic advantages in Russia. “For the United States, the trade with Russia was actually of secondary importance. Russian exports to the United States are limited to fertilizers, some metals and uranium.”
It’s about geopolitics
Rather, Trump is pursuing a geopolitical strategy in conversations with Russia: “Rather, he thinks of the domestic political effects of his decisions. Trump wants to weaken the political and economic cooperation between Russia and China by offering Russia alternative options,” says Libman Evidence Network.de.
The trade between Russia and China has been strengthened in recent years. Should the USA replace China as an important trading partner in Russia, this could seriously harm China, Trump’s greatest rival.
Would companies really benefit?
It is also conceivable that Trump acts in the sense of some US companies, explains Libman. Especially for those who retired from Russia in 2022 and had to make extensive depreciation, an economic approach could be interesting. These include consumer goods companies such as Coca-Cola and McDonald’s as well as the agricultural engineering manufacturer Deere and the mineral oil company Exxonmobil.
Libman, however, doubts that these companies would benefit from better trade relationships to Russia at short notice: “Even if the relationship between Russia and the USA will be restored tomorrow, these companies will not be able to take their place on the Russian market immediately.” Because their facilities were sold and Russia currently has a strong shortage of work. “These are not optimal conditions for an market entry,” says politics professor Libman.
Whether Trump is pursuing economic, entrepreneurial or geopolitical interests – certainly one thing is also about the conversations with Russia, Libmann says: “He wants to end war in Ukraine as quickly as possible to strengthen his international and internal reputation to reduce the costs for the USA and to avoid human suffering and dying.”
