Russia is open for economic cooperation with the U.S., President Vladimir Putin' new special envoy on international economic cooperation said in response to President Donald Trump's call for "major economic development transactions with Russia".

Vladimir Putin has appointed Kirill Dmitriev as a special envoy for international economic and investment cooperation. Dmitriev, head of Russia's sovereign wealth fund, is seen as highly knowledgeable about the U.

Russia's overheating economy is on the cusp of serious cooling, as huge fiscal stimulus, soaring interest rates, stubbornly high inflation and Western sanctions take their toll, but after three years of war,