Russia and US to sign agreement on Bering Strait tunnel design at St. Petersburg forum

Russia and the US are set to sign an agreement to move forward with the design of a tunnel planned to connect Russia with Alaska across the Bering Strait, according to Kirill Dmitriev, the Special Representative of the Russian President and Chief Executive of the Russian Direct Investment Fund (RDIF).

Speaking to journalists at the St. Petersburg International Economic Forum (SPIEF), Dmitriev announced that an agreement would be signed today during the forum to secure continued work on the design of the tunnel, adding that further news regarding the project would be shared tomorrow.

Dmitriev stated that the tunnel would be built in accordance with these plans, describing the initiative as one of the major infrastructure projects between Russia and the US.

Dmitriev first spoke publicly about the project last year. In an interview with CNN, he noted that political challenges would first need to be overcome for the project to be realized, but suggested that the tunnel could ultimately serve as a “symbol of unity” between Russia and the US.

In October last year, the RDIF head extended a public invitation to billionaire entrepreneur Elon Musk to participate in the Bering Strait tunnel project, proposing that the structure be named the “Putin-Trump” tunnel.

In a post on the social media platform X, Dmitriev urged people to imagine a 70-mile “Putin-Trump” tunnel linking the US and Russia, as well as the Americas and Afro-Eurasia. He framed the project as a symbol of unity, calling on both nations to build the future together and connect the continents for the first time in human history.

According to calculations presented by Dmitriev, the implementation of the project could cost approximately $65 billion. However, he projected that the total cost could fall below $8 billion if technology from Elon Musk’s Boring Company is utilized.

Dmitriev also emphasized that the Russian Direct Investment Fund stands ready to participate in financing the construction phase of the project.

US President Donald Trump previously characterized the tunnel concept as interesting.

Trump stated that he had only recently heard of the proposal to build a tunnel from Russia to Alaska and had not encountered the idea before. He noted that the US was in the process of building a major highway in Alaska at the time, which would grant access to significant mineral resources.

Trump is known to look favorably upon projects that carry his name. In January, he informed Chuck Schumer, the Democratic leader in the Senate, that he was prepared to release billions of dollars in federal funding for the Gateway tunnel project under the Hudson River in New York.

In exchange for releasing the funds, Trump conditioned his approval on Schumer agreeing to rename Penn Station in New York and Dulles International Airport in Washington in his honor.