US considers lifting sanctions against Russian investment fund
The administration of US President Donald Trump is considering lifting sanctions against the Russian Direct Investment Fund (RDIF), headed by Kirill Dmitriev—one of the key participants in the talks between Washington and Moscow. This concerns restrictions imposed after Russia's full-scale invasion of Ukraine.
This was reported on October 27 by The New York Times.
According to the publication, American authorities are studying the possibility of removing the Russian state investment fund from the sanctions list. Such a step would be another economic easing for Moscow amid the Trump administration's attempts to negotiate an end to the war against Ukraine.
A final decision on lifting the restrictions has not yet been made. The RDIF remains under US sanctions, and no specific timeline for a possible review of its status has been announced.
The fund was created in 2011 to attract foreign investment into the Russian economy. Its head, Kirill Dmitriev, is part of Vladimir Putin's inner circle and represents the Kremlin's interests in negotiations on economic cooperation with the US.
In February 2022, the US Treasury Department imposed blocking sanctions against the RDIF, its management company, and Dmitriev. The American agency then characterized the fund as a structure that Putin and his entourage use to attract capital and pursue their own economic interests.
The restrictions provide for freezing the fund's assets under US jurisdiction and prohibiting most transactions involving US individuals and legal entities.
The possible lifting of sanctions takes on special significance amid the resumption of economic contacts between Russia and the US. In recent months, Dmitriev has repeatedly participated in negotiations with Trump administration representatives, promoting projects in energy, mining, and technology.
On October 16, Dmitriev said that Russia and the US are discussing joint projects to build data centers, including using small nuclear power plants. He also reported the RDIF's involvement in organizing financial settlements under the Russian-American agreement on diesel fuel supplies.
According to Dmitriev, the US Treasury Department approached the fund for assistance in resolving payment issues related to this deal. This was previously reported by Reuters.
The Russian negotiator then acknowledged that current sanctions significantly hamper the implementation of joint investment projects. According to him, Moscow and Washington are discussing possible mechanisms to remove such restrictions.
Meanwhile, the Trump administration has already taken several steps to ease sanctions pressure on Russia.
In particular, on October 16, the American president signed a decree to suspend the application of new restrictions provided for by the law named after Senator Lindsey Graham. The document allowed for additional sanctions against Russian financial organizations, energy companies, and states that continue to purchase Russian energy resources.
Trump explained his decision by the need to preserve opportunities for diplomatic negotiations with Moscow. However, the suspension of new sanctions did not mean automatic cancellation of restrictions in force since 2022, including measures against the Russian Direct Investment Fund.
The American president's decision drew criticism from members of both parties in Congress. Lawmakers warned that economic easing could increase Russia's financial capacity to continue the war.
President of Ukraine Volodymyr Zelenskyy also spoke out against weakening sanctions pressure on Moscow, emphasizing the need to maintain restrictions until Russian aggression ceases.
A possible review of sanctions against the RDIF will be a separate decision of the US administration. Even if US restrictions are lifted, this will not mean automatic termination of sanctions imposed on the fund by other countries.
