US and Russia in talks on lifting fund sanctions
Discussions on the United States lifting sanctions on Russia's flagship investment fund are under way with the administration of President Donald Trump, Kremlin foreign policy aide Yuri Ushakov has said. Ushakov, quoted by Russian news agencies on Wednesday, said the head of the Russia Direct Investment Fund (RDIF), presidential envoy Kirill Dmitriev, was actively pursuing the talks. "This conversation is going on. It has been going on for a while. I don't know what the outcome will be," Ushakov was quoted as saying, adding that discussions were still proceeding.
Why the fund is in focus
The New York Times reported earlier on Wednesday that the Trump administration was considering abandoning the sanctions on the fund. According to that reporting, a US official said lifting the sanctions was being considered to improve US-Russia relations and help end the war in Ukraine. The fund was sanctioned after Russia's full-scale invasion of Ukraine in 2022. Two Democratic lawmakers, Representatives Marcy Kaptur and Rosa DeLauro, criticised the possible move, saying in a statement that it would "only embolden Putin and give him the resources to prolong this conflict".
Wider easing already under way
The talks form part of a wider softening in Washington's sanctions posture towards Moscow. Earlier this month, President Trump announced that Russia would supply diesel for US and world markets, and Russian Deputy Prime Minister Alexander Novak said on Tuesday that a fourth diesel tanker would depart on Wednesday. President Trump also issued an executive order waiving key Russia-related sanctions and tariffs, including duties on Russian goods and penalties for buying its oil and gas, that had been scheduled to take effect under legislation known as the Graham Act. No decision on the fund itself has been announced.
