Kremlin Says US-Russia Talks Continue on Lifting Fund Sanctions

At a Glance

The Trump administration is discussing the possible lifting of US sanctions on Russia’s Direct Investment Fund, according to Kremlin aide Yuri Ushakov.
Russian presidential envoy Kirill Dmitriev is actively pursuing sanctions relief, Ushakov said.
The outcome remains uncertain, and Washington has not confirmed a decision to lift the restrictions.
The discussions come amid broader US-Russia engagement over Russian diesel supplies and efforts to end the war in Ukraine.

Washington and Moscow are conducting discussions regarding the potential removal of U.S. sanctions against the Russian Direct Investment Fund, Kremlin foreign policy aide Yuri Ushakov confirmed.

Key Statements and Focus Areas

Kremlin Confirms Ongoing Discussions

Ushakov said the issue had been under discussion for some time but cautioned that the outcome remained unclear.

“This conversation is going on. It has been going on for a while. I don’t know what the outcome will be.”

He added that Dmitriev, who heads the Russian Direct Investment Fund and serves as a presidential envoy, was actively engaging in contacts with the US side.

Washington Weighs Possible Sanctions Relief

The New York Times reported that the Trump administration was considering lifting sanctions on the fund. According to the report, a US official confirmed that the fund’s request was being reviewed through established procedures.

The fund was sanctioned by the Biden administration in 2022, shortly after Russia launched its full-scale invasion of Ukraine.
Russian officials have sought relief as part of broader discussions on economic cooperation with Washington.
No final decision to remove the sanctions has been announced.

Wider Economic Engagement

The discussions come after Washington temporarily eased certain sanctions affecting Russian diesel supplies.

Trump has also issued an executive order waiving specified Russia-related sanctions and tariffs that were scheduled to take effect under legislation known as the Graham Act, according to Reuters.

These separate measures form part of the wider context of US-Russia economic engagement, but they do not establish that sanctions on the investment fund itself have been lifted.

The Trump administration and Moscow are discussing the possibility of lifting US sanctions on the Russian Direct Investment Fund, according to Kremlin foreign policy aide Yuri Ushakov.

Speaking on Wednesday, Ushakov said the discussions had been underway for some time. He identified Kirill Dmitriev, the fund’s head and a Russian presidential envoy, as actively pursuing the issue through contacts with American officials.

Ushakov said he did not know what the outcome would be, indicating that the talks had not yet produced a confirmed decision.

The New York Times reported that the Trump administration was considering removing the sanctions, with a US official confirming that the fund’s application was being assessed through established procedures. The discussions reportedly form part of broader efforts to improve US-Russia relations and explore economic cooperation alongside negotiations over the war in Ukraine.

The Russian Direct Investment Fund was sanctioned by Washington in 2022. Removing these restrictions would signal a shift in U.S. sanctions policy toward Moscow as talks progress between both nations.

Washington has already taken separate steps involving Russian fuel. Trump announced a temporary easing of sanctions to facilitate Russian diesel supplies, while Russian Deputy Prime Minister Alexander Novak said a fourth tanker was expected to depart on Wednesday.

The fund’s possible sanctions relief remains a separate issue. Neither Ushakov’s comments nor the reported review of the application confirms that the restrictions will be removed.

FYI

The discussions highlight the role of economic incentives in the Trump administration’s engagement with Moscow over the war in Ukraine. Potential sanctions relief could open new channels for Russian investment and commercial activity, but it would also mark a shift in a policy framework established after Russia’s 2022 . For now, the central distinction is between an application under review and an approved change: sanctions on the fund have not been confirmed as lifted.