Russia’s sovereign wealth chief has revived a long-standing vision of physically connecting Eurasia and North America, proposing an $8bn “Putin–Trump Tunnel” or 'Runnel' beneath the Bering Strait as a potential symbol of post-war reconciliation and expanded trade between Moscow and Washington.

Kirill Dmitriev, Chief Executive Officer of the Russian Direct Investment Fund (RDIF) and Russian President Vladimir Putin’s special envoy for economic cooperation, said preliminary discussions on the project have begun. He stated that the 100km (62-mile) rail and freight tunnel could be completed in under eight years, at a fraction of earlier cost estimates exceeding $65bn. Dmitriev attributed the reduction to advances in tunnelling technology developed by Elon Musk’s The Boring Company.

According to Dmitriev, the proposed 'runnel' would form the first physical land link between Russia and the United States, potentially enabling joint exploration of Arctic natural resources while serving as “a symbol of unity”. The Harvard-educated former Goldman Sachs banker said the plan aligns with RDIF’s cross-border infrastructure strategy, citing the fund’s role in completing the first Russia–China rail bridge as precedent.

Dmitriev’s remarks suggest that the idea of the tunnel has been on the agenda since the start of ceasefire talks in February and come ahead of a second summit between Putin and Trump, slated to happen this month in Budapest. As bne IntelliNews reported, Trump’s support has swing back towards Moscow and Trump appears to have a series of mega-deals that he is negotiating with the Kremlin. For his part, Putin is playing hard all and is insisting on taking control of the entire Donbas region at a minimum, as a precondition for ending the Ukraine conflict.

US President Donald Trump described the proposal as “interesting” during a meeting with Ukrainian President Volodymyr Zelenskiy in Washington, to which Zelenskiy responded, “I’m not happy with this idea,” drawing laughter from those present. The announcement follows a recent phone call between Trump and Putin, who are expected to meet in Budapest to discuss possible frameworks for ending the war in Ukraine.

Strategically, the Bering Strait project would create a continuous rail corridor stretching from Seattle through Alaska and the Russian Far East to St Petersburg, linking the American and Eurasian railway networks. The Russian segment alone would extend roughly 3,850km from Uelen in Chukotka to Yakutsk before connecting with the Trans-Siberian Railway.

Although the concept dates back more than 150 years and was previously revived during the Cold War as the “Kennedy–Khrushchev Peace Bridge”, it has never advanced beyond feasibility studies. Analysts said the latest revival reflects Moscow’s efforts to reposition itself as a Eurasian transport hub amid sanctions and geopolitical isolation. However, experts cautioned that severe engineering challenges, financial constraints and political mistrust remain significant barriers to the project’s realisation.