China News Service, June 6 reported that the Russia-US summit will be held in Geneva, Switzerland on June 16.

As the tension between the two countries intensified, both sides played down their expectations for any breakthroughs in the meeting. It is expected that the issue of sanctions will become the focus of the game between Russia and the United States.

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relationship "at a very low level."

Both sides downplay the expected outcome of the meeting

　　Russian President Vladimir Putin said on the 4th that he hoped to improve Russia-US relations during the first summit with US President Biden, but he set a tough tone before the meeting, saying that the United States wanted to "stop" Russia's development.

Data map: Russian President Putin.

　　Tensions between the United States and Russia are increasing due to a series of issues criticizing the arrest of Russian opposition activist Navaline and the conflict in Ukraine, as well as allegations of hacking and interference in the election.

　　Putin said at the St. Petersburg International Economic Forum on the 4th: "We need to find a way to resolve the relationship. Now our relationship is at a very low level." He said that disarmament, the new crown pandemic and environmental issues will also be on the agenda.

　　The Kremlin stated that the differences between the United States and Russia are too deep to carry out a major "reset" of relations.

Biden also previously revealed that he hopes to discuss human rights issues with Putin and warned that the United States still intends to respond to "harmful actions" that Russia may take in the future.

　　Kirill Dmitriev, chief executive of the Russian Sovereign Direct Investment Foundation, said on the 4th that the upcoming Russia-US summit will be a critical moment for trying to restore the bad relations between the two countries.

"I liken the Russia-US relationship to a falling knife. We need to grab this knife on the 16th before it falls to the ground."

The U.S. and Russia economies have different footholds

The issue of sanctions will be at the core of the talks

　　The recent multiple games between Russia and the United States have focused mainly on the issue of sanctions.

In mid-April, the United States increased its sanctions against Russia on the grounds of Russia’s intervention in the election and hacking attacks. However, at the end of May, the White House announced the lifting of sanctions on the "Beixi 2" natural gas pipeline construction company that links Russia and Western Europe. Become the core of Russia-US talks.

Data map: US President Biden.

　　However, although Russia and the United States may make some short-term exchanges on sanctions, it is difficult to conceal the contradiction between the two countries' long-term economic footholds.

Even if Russia can exchange some sanctions by the United States, Russia and the West still have big differences.

Under the premise that values ​​come first, it is difficult for the West to completely put down the stick of economic sanctions.

　　In the face of U.S. sanctions, Russia’s long-term strategy will be to weaken the hegemony of the U.S. dollar and establish another international payment system that bypasses U.S. domination.

Putin said on the 4th that the United States is wrong to think that it is "strong enough" to threaten other countries with impunity.

　　On June 3, Russian Finance Minister Luanov announced that the Russian sovereign wealth fund will sell all US dollar assets within one month.

On the same day, Russian Deputy Prime Minister Alexander Novak also pointed out that under the targeted economic sanctions by the United States, Russia may soon abandon the dollar-denominated crude oil contract.

Of course, these statements may only be a process of bargaining before the two heads of state meet, but it is a fact that Russia has been reducing the use of US dollars in recent years.

In all Russia's foreign transactions, the U.S. dollar has fallen below 50%.