Putin hails 20% jump in US-Russia trade under Trump, even as US slaps tariffs on India over Russian oil

“It is symbolic that you can literally step from yesterday into tomorrow,” he told Trump, suggesting the same should apply to politics.

At their Alaska summit, Russian President Vladimir Putin said US-Russia trade has risen 20 percent since Donald Trump’s return to the White House, a striking claim given Washington’s ongoing pressure campaign against nations still purchasing Russian oil.

Trump has slapped new tariffs on all major economies, including India and China, over energy imports from Moscow. His administration argues that buying discounted Russian crude undercuts Western sanctions and props up the Kremlin’s war chest.

Putin, however, spun the narrative differently, highlighting the symbolic rebound in bilateral trade as a sign of thawing ties. “Russia and the U.S. can offer each other so much in trade, digital, high tech and in space exploration,” he said.

Instead of directly addressing Ukraine, Putin invoked shared heritage, from Orthodox churches in Alaska to World War II camaraderie. Calling the U.S. a 'dear neighbor,' he noted that the two countries are separated by just four kilometers at the Bering Strait.

“It is symbolic that you can literally step from yesterday into tomorrow,” he told Trump, suggesting the same should apply to politics.

The summit produced no ceasefire deal for Ukraine. Trump said “many points” had been agreed upon but admitted “a couple of big ones” remain unresolved. He vowed to brief NATO allies and Ukrainian President Volodymyr Zelenskyy.

“There’s no deal until there’s a deal,” Trump said, though he called the talks “extremely productive” and insisted both leaders want to stop “thousands of people a week” from dying.

Trump’s dual approach, warming ties with Putin while penalising India, China and others for oil imports, signals a high-stakes gamble.

For Moscow, that contradiction is an opportunity. Putin framed the Alaska meeting as a 'new stage' in relations, saying today’s 20 percent trade growth could be the foundation for 'business-like and pragmatic ties,' even as sanctions elsewhere bite.