The international system and its main participants, including Russia and countries in North America, are currently facing a number of serious challenges. In addition to already established limiting factors, such as geopolitical instability and trade limitations and restrictions, the world is now facing phenomena such as climate change and related natural catastrophes, new rapidly spreading infections, as well as the consequences of measures taken to counteract these new threats. All of these factors have a negative effect on the structure of economic ties and the prospects of trade and investment cooperation, destabilizing the financial and stock markets and threatening global supply chains. That said, cooperation in addressing these problems for the common good can both reveal new opportunities for implementing specific business projects and contribute to the development of new constructive modalities and vectors for Russian North American cooperation. Potential areas of cooperation include various aspects of sustainable development, including healthcare, climate change and environmental protection, cooperation in the Arctic, the Asia-Pacific region, and third country markets, food security, and supporting global financial stability. Collaborating in areas of mutual interest can increase trust, which in turn can create the conditions necessary to overcome negative external barriers. Those positive effects can then spill over to other cooperation sectors and turn crises into opportunities. How are global business leaders reacting to the rapid changes in doing business in this new reality? What can be done to minimize risks in the context of bilateral and multilateral cooperation? Which objectives and geopolitical and environmental challenges can and should be addressed together and which sectors are currently the most relevant and promising for international cooperation?