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Finance

Russia's wealth fund chief says Trump could change history

Published by Global Banking and Finance Review

Posted on January 21, 2025

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MOSCOW (Reuters) - The head of Russia's $23 billion sovereign wealth fund praised U.S. President Donald Trump on Tuesday, saying his raft of orders showed that decisive leadership could change the course of history, boost growth and open opportunities for dialogue.

Within hours of his inauguration, Trump issued a flurry of orders intended to boost oil and gas production, unwind former President Joe Biden's climate agenda, curb immigration and roll back environmental regulations.

Russian officials, mindful of Trump's approach to Russia during his first term, have so far reacted cautiously to Trump's return, including his intention to speak to Russian President Vladimir Putin about ending the war in Ukraine.

"President Trump's bold actions today prove that decisive leadership can change the course of history, unlocking economic growth and transforming global challenges into opportunities for dialogue and resolution through problem solving," said Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF).

Dmitriev, a U.S.-educated former Goldman Sachs banker, played a role in early contacts between Moscow and Trump's team when he was first elected President in 2016.

Dmitriev is currently under U.S. sanctions, which Russian officials dismiss as illegal and unfounded.

Putin, speaking to his Security Council on Monday, congratulated Trump on assuming office, expressing openness to dialogue with the new U.S. administration and praising Trump's desire to resume direct contacts with Russia.

Putin met with Dmitriev on January 13, one week before the inauguration. The two discussed RDIF's investments, valued at 2.3 trillion roubles ($22.53 billion), according to the official transcript of the meeting published on the Kremlin's website.

RDIF did not say whether Dmitriev is likely to play a role in any future contacts between Moscow and the U.S. administration.

Trump, in his inauguration speech, said he was saved by God from an assassin's bullet in June to "make America Great again" and vowed that he would make the United States "far more exceptional than ever before".

($1 = 102.0705 roubles)

(Reporting by Reuters; editing by Guy Faulconbridge)