Russia, US could resume financial ties, Russia finance minister claims

Dialogue between Russia and the US should continue to find common ground on economics, which should make it easier to discuss political issues, Russian Finance Minister Anton Siluanov said, according to an Interfax report on Wednesday.

Asked about a bilateral meeting with US Treasury Secretary Scott Bessent on Monday at the G20 finance leaders conference in North Carolina, Siluanov said both countries have agreed there are grounds to develop financial ties despite complications, Interfax reported.

Siluanov, who said he was meeting Bessent for the first time, said he believed people in the financial world sometimes find common ground faster than politicians.

“So we must always keep talking; we need to continue the dialogue. If we find strong points of common interest – and they do exist – we need to develop them. Then political issues will also be easier to resolve,” he said, according to Interfax.

Reuters reported on Monday that a source familiar with the ministers’ meeting said Bessent made clear to Siluanov that no economic relief for Russia or agreements on other issues were possible until its war in Ukraine ends.

Bessent met bilaterally with Siluanov on the sidelines of a G20 finance leaders meeting in Asheville, North Carolina.

The Russian finance minister’s first in-person G20 appearance since Russia invaded Ukraine has irritated European officials who are working on more sanctions against Russia.

Earlier, a US official told Reuters the focus of the Bessent-Siluanov meeting was President Donald Trump’s peace plan for Ukraine. Russia’s finance ministry said the two officials discussed financial cooperation within the G20 framework.

When Siluanov tried to discuss areas of mutual interest, the source said Bessent interrupted him and said: “Nothing is possible until the war is over.”

The US imposed sanctions on Russia’s oil majors in October 2025, but after the US-Israeli war against Iran cut off energy supplies through the Strait of Hormuz, Bessent issued licenses allowing the sale of seaborne Russian oil stored in tankers to ease supplies, sending some funds to Moscow.