Long-standing US sanctions on the Russian Direct Investment Fund could be eased or lifted as part of talks on Russian diesel supplies to the United States. The possibility is reported by The New York Times, and the information was cited by Ukrinform.
Russian officials are pushing for a change in the sanctions regime as they negotiate the fund's participation in fuel supplies. According to the publication, the economic agreements are seen by Donald Trump's team as a possible tool for rapprochement with Moscow and for promoting an end to the war in Ukraine.
Dmitriev leads talks with US representatives
At the center of the negotiations is Kirill Dmitriev, head of the Russian Direct Investment Fund. He represents the Kremlin's interests in contacts with the Trump team and insists on easing sanctions against the institution he manages.
Dmitriev spoke with the US President's special envoy Steve Witkoff and with Jared Kushner, Trump's son-in-law. According to US representatives, economic deals with Russia could show Vladimir Putin that Washington has serious intentions to build new relations.
However, the US side has not announced a final decision on the sanctions. Their possible removal would mark a significant change from the policy implemented since the start of the full-scale Russian invasion of Ukraine.
The fund has been sanctioned since 2022.
The Russian fund has been under US sanctions since 2022, when the Joe Biden administration imposed restrictions on it and other key sources of Russian wealth. The fund has invested billions of dollars in Russian companies and worked with investors from the Middle East and other regions.
The US administration has described it as Putin's "black box" and a symbol of the kleptocratic system in Russia. The US has also imposed sanctions on Dmitriev himself, who is considered close to the Russian president.
At the same time, the White House's approach is facing resistance in Congress. Some Republican lawmakers question whether economic agreements with Moscow can lead to an end to the war. Democrats in Congress have asked major banks and ports to preserve documents related to Russian diesel transactions, due to a possible investigation into the arrangements between Trump and Putin.
Thus, the future of sanctions against the fund remains linked to both the fuel negotiations and the broader efforts of the US administration to change relations with Russia.
Sources: ukrinform.ua, axios.com, apnews.com