Putin's negotiator Dmitriev pushing for release of $280 billion in frozen Russian assets, Ukrainian intel chief says

The head of Russia's sovereign wealth fund, Kirill Dmitriev, is spearheading efforts to secure the release of some $280 billion in frozen Russian assets, Ukrainian Foreign Intelligence Service (SZRU) Chief Oleh Ivashchenko told Ukrinform in an interview published on May 26.

Kyiv-born Dmitriev was previously appointed by President Vladimir Putin as a special envoy for economic affairs, tasked with facilitating dialogue with the Trump administration.

"Dmitriev's main task is to get Russia's frozen assets out. This is a colossal amount for them," Ivashchenko said.

Western governments froze around $300 billion in Russian sovereign assets following the full-scale invasion of Ukraine in 2022.

Kyiv has repeatedly urged the G7 and EU to move from freezing to confiscating those funds and using them to finance Ukraine's defense and post-war recovery. Western governments have primarily relied on reallocating interest income generated by the frozen funds to support Kyiv.

Ivashchenko accused Dmitriev of trying to reframe the international conversation away from Russia's war against Ukraine.

"Dmitriev is trying to show the U.S. that let's not focus on war and peace, let's look at the bigger picture. We have the Arctic, we have oil, gas, we have Siberia with resources," he said.

President Volodymyr Zelensky, speaking on April 9, also said that Dmitriev has been tasked with conveying Moscow's economic proposals to Washington. Dmitriev previously played a key role in Russia's backchannel diplomacy with the Trump team after the 2016 U.S. election.

After his May 19 call with Putin, U.S. President Donald Trump said Russia was ready to engage in major trade deals with the U.S. once the war ends.

"There is a tremendous opportunity for Russia to create massive amounts of jobs and wealth," Trump said in a Truth Social post. "Its potential is unlimited. Likewise, Ukraine can be a great beneficiary on trade, in the process of rebuilding its country."

Ivashchenko warned that these overtures from Dmitriev are part of a deliberate effort to deflect attention from Ukraine and gain leverage in broader geopolitical negotiations.

"The issue of Ukraine is being blurred," he added.