Kremlin Confirms Talks With US on Lifting Sanctions on Russian Fund

The Kremlin said on Wednesday that talks with the United States about lifting sanctions on Russia's main investment fund are continuing, with President Vladimir Putin's envoy actively involved. Yuri Ushakov, the Kremlin's foreign policy adviser, told reporters that discussions have been going on for some time and that he was unsure of the outcome. Kirill Dmitriev, head of the Russian Direct Investment Fund and a special envoy for Putin, is leading contacts on the matter, Ushakov said, according to a report by HotNews.ro citing Russian state news agencies.

The statement followed a New York Times report that the Trump administration is considering dropping the sanctions. Washington has already made several concessions to Moscow over measures imposed after Russia's invasion of Ukraine in February 2022. Earlier this month, US President Donald Trump announced Russia would supply diesel to the United States and globally, temporarily lifting sanctions on Russian fuels. Russian Deputy Prime Minister Alexander Novak said on Tuesday that a fourth tanker carrying diesel would depart on Wednesday. Trump also issued an executive order suspending major US sanctions and measures related to Russia, including tariffs on Russian goods and sanctions on oil and gas purchases under the Graham Act, which he signed last month.

The Russian Direct Investment Fund is a state-owned vehicle that attracts foreign capital into the Russian economy. Lifting sanctions on it could be part of a broader shift in US-Russia relations, though Ushakov gave no indication of when a decision might come.