 "Kirill Dmitriev, Special Presidential Envoy on Foreign Investment and Economic Cooperation of Russia, looks on at Diaoyutai State Guesthouse in Beijing, China, September 2, 2025. File Image/Reuters via Pool")
Kirill Dmitriev, a Russian investment executive turned Kremlin emissary has been put under the lens as his involvement in shaping a proposed Ukraine peace agreement, following discreet meetings with senior members of the Trump administration in Miami, comes to light.
Once viewed primarily as a businessman connecting Russian capital with global markets, Dmitriev now finds himself influencing some of the most sensitive negotiations of the post-Cold War era.
How Dmitriev came under the spotlight
According to multiple individuals familiar with the situation, an October meeting brought together Russian envoy Kirill Dmitriev, US special envoy Steve Witkoff, and Jared Kushner, son-in-law to US President Donald Trump, reported Reuters.
What unfolded at the Faena Hotel, owned by Access Industries — whose founder has longstanding Russian connections — has now grown into a diplomatic flashpoint.
The three men reportedly worked on a detailed proposal aimed at halting the conflict in Ukraine. The document, containing 28 specific points, later surfaced publicly and quickly drew sharp reactions.
Many inside the US government were unaware the talks were taking place, and the contents caught diplomats in Washington and allied capitals off guard.
The proposal prompted strong objections from Ukrainian officials and Western allies who saw the framework as reflecting positions beneficial to Moscow.
Ukrainian President Volodymyr Zelenskyy responded by asserting that any negotiations must ensure a “dignified peace, with terms that respect our independence, our sovereignty.”
One striking complication was that Dmitriev himself has been prohibited from entering the United States since 2022, when the US Treasury sanctioned him and the Russian Direct Investment Fund (RDIF), which he leads.
Despite this, the Trump administration approved a special exemption enabling his visit, according to one senior American official.
Individuals familiar with the timeline say Ukrainian National Security and Defense Council Secretary Rustem Umerov was also in Miami earlier that week. These sources indicate Umerov met with Witkoff, and that the United States relayed the proposal to Ukraine through Turkey before presenting it directly in Kyiv.
Umerov has insisted he had no substantive engagement with the plan, describing his involvement as “technical.”
The White House defended its approach. Spokesperson Karoline Leavitt explained that any settlement must include “security guarantees and deterrence for Ukraine, Europe and Russia” and argued that the proposed framework aimed to identify “the best win-win scenario, where both parties gain more than they must give.”
Trump added more pressure, expressing confidence that Zelenskyy would sign the proposal by Thanksgiving and warning that American military support could be reconsidered if Ukraine refused.
Why US officials are growing uneasy with Dmitriev’s access
Dmitriev’s involvement in sensitive US discussions has caused unease in parts of the American intelligence apparatus.
One official with knowledge of the situation said segments of the community are uncomfortable with the frequency and depth of contact between Dmitriev and American envoys since early 2025.
This concern stems not only from his current status as a sanctioned Russian national, but also from a history of outreach to Western political figures.
Dmitriev has often operated at the intersection of economics and diplomacy, using his leadership of RDIF to engage with governments and businesses even after restrictions were imposed on him following Russia’s full-scale invasion of Ukraine.
Past events illustrate why US agencies remain cautious. During Trump’s first term, Dmitriev made efforts to build bridges between the two countries.
The Mueller investigation later noted that he met individuals close to the Trump campaign following the 2016 election. These included a discussion in 2017 with Blackwater founder Erik Prince focused on US–Russia relations and a separate meeting with an associate of Jared Kushner where he drafted ideas to improve ties.
Although investigators found no evidence that the Trump campaign coordinated with Russia during the election, the interactions were documented in the final report.
Dmitriev and Kushner again interacted directly during the early stages of the Covid-19 pandemic when the RDIF arranged to provide ventilators to the United States.
According to a senior American official, US Treasury Department staff worried that accepting equipment from an entity under sanction risked breaking US law.
Dmitriev has also made regular appearances on American television networks, where he presents Russia’s perspective in polished US media-friendly language. He has spoken at major international forums, including the World Economic Forum in Davos, promoting the idea of improved commercial ties between the United States and Russia.
His ability to manoeuvre in Western political and media environments remains unusual for someone positioned as a senior envoy for Russian President Vladimir Putin.
One more recent episode only added to concerns. Dmitriev met Republican Congresswoman Anna Luna in Florida earlier this month, an interaction recorded by Russian state media outlet RIA.
In the footage, Luna is seen receiving a box of chocolates featuring Putin’s portrait. The images appear to be taken inside the Faena Hotel where Dmitriev also met Witkoff.
What we know about Dmitriev’s background
Unlike many members of Putin’s inner circle, Dmitriev’s formative years were spent far from Moscow.
Raised in Kyiv as the son of two scientists — one a prominent Ukrainian cell biologist and the other a geneticist, friends have claimed that as a teenager, Dmitriev joined pro-democracy demonstrations in Kyiv during the waning days of the Soviet Union.
His early views appeared to support Ukrainian national identity.
While on a high-school exchange programme in New Hampshire in 1990, a local newspaper quoted him reflecting on Ukraine’s past, saying, “Ukraine had a long history as an independent nation before it became part of the Russian empire.”
He later returned to the United States for his higher education. At Stanford University, he prepared a thesis examining economic privatisation in Ukraine, stating in his project proposal that the research would “prepare me better for making a contribution to the reform process in Ukraine.”
He went on to complete an MBA at Harvard Business School.
After Harvard, Dmitriev joined McKinsey & Company, working in Los Angeles, Prague and Moscow, before transitioning to the US–Russia Investment Fund, which was created as part of American efforts to support Russia’s transition to a market economy.
His early writings also signalled scepticism of political overreach in Russia.
In 2003, in a column published in a business newspaper, he warned that the distinction between legitimate law enforcement and using legal tools for political influence must be clear, saying, “The world is shrewd enough to know the difference between following the letter of the law and using the law as a tool of influence.”
By 2007, he returned to Ukraine to lead Icon Private Equity, overseeing operations in Kyiv and Moscow. He frequently appeared on television talk shows, discussing regional politics and economics.
In 2010, he predicted that Ukraine risked deep financial hardship if it distanced itself economically from Russia, warning of an “economic Holodomor” — a striking historical reference to the devastating Soviet-era famine.
In 2011, he moved back to Moscow to run RDIF, the new sovereign wealth fund designed to attract foreign investment into Russia. He has remained its head ever since.
The US Treasury Department, when sanctioning RDIF in 2022, referred to it as “widely considered a slush fund for President Vladimir Putin and … emblematic of Russia’s broader kleptocracy.”
How Dmitriev conducts business
Dmitriev’s portfolio has included pitches for joint energy ventures in the Arctic, proposals on rare-earth mineral cooperation, and even bold suggestions such as a multibillion-dollar rail tunnel under the Bering Strait — a project he once suggested could symbolise a new era of US-Russia partnership.
He has also made overtures to high-profile American business leaders. At one point, he spoke about the possibility of Russia offering Elon Musk a compact nuclear power system for use in Mars missions.
These ideas did not advance, but they demonstrated Dmitriev’s effort to position himself as a bridge between Moscow and Western technological and financial worlds.
The depth of his role in Putin’s network is also shaped by his family connections. His wife, television host Natalia Popova, is closely associated with Vladimir Putin’s daughter Katerina Tikhonova, serving as her deputy at the state-linked technology firm Innopraktika.
Reports have suggested that Dmitriev and Popova have accumulated significant real-estate holdings through the years, reported BBC.
One of Dmitriev’s highest-profile initiatives was the financing of Russia’s Sputnik V coronavirus vaccine through RDIF. The vaccine became one of Russia’s most significant global branding efforts during the pandemic, and the fund played a major role in promoting it abroad.
How Dmitriev grew close to Trump & Co.
Although Dmitriev interacted with Trump-aligned figures as early as 2016, his direct engagement has accelerated with the second Trump administration.
His first notable appearance that year came when he assisted in securing the release of an American teacher imprisoned in Russia, an effort that drew public praise from Witkoff.
Recounting the episode, Witkoff said, “There’s a gentleman from Russia, his name is Kirill, and he had a lot to do with this. He was important. He was an important interlocutor bridging the two sides.”
Shortly afterward, diplomats from Russia and the US met in Saudi Arabia in a symbolic step away from Moscow’s post-invasion diplomatic isolation. Dmitriev was among the Russian representatives involved in economic discussions, while Witkoff was present on the American side.
Dmitriev later spoke at a conference in Saudi Arabia in late October, expressing optimism about ending the war. “We are sure we are on the road to peace, and as peacemakers we need to make it happen,” he said.
Yet despite his apparent rapport with Trump’s envoys, Dmitriev’s efforts have not always been well received by other senior officials.
After the Trump administration sanctioned two of Russia’s major oil companies last month, US Treasury Secretary Scott Bessent criticised him sharply for claiming the move would hurt American consumers, labelling him a “Russian propagandist.”
What next
While Dmitriev maintains influence in Moscow and retains access to global institutions, his reputation in Ukraine has sharply deteriorated.
Ukrainian authorities have imposed sanctions on him for alleged offences involving Ukraine and its citizens.
Many in Kyiv view his involvement in the US peace discussions with deep suspicion.
When the Miami document emerged, analysts immediately noted that it would require Ukraine to make major territorial concessions and significantly reduce its military capabilities.
It remains unclear whether Dmitriev arrived in Miami with directives from Moscow and to what extent they shaped the plan.
With inputs from agencies