Trump Administration Considering Lifting Sanctions on RDIF — NYT

The Trump administration is considering lifting sanctions on the Russian Direct Investment Fund (RDIF), according to people familiar with the situation. An unnamed U.S. official confirmed to the publication that the U.S. Treasury Department is reviewing the fund's application for delisting as part of standard procedures.

According to sources, the Russian side pursued this step during negotiations over RDIF's participation in supplying Russian diesel fuel to the United States. Russian Deputy Prime Minister Alexander Novak stated on October 23 that RDIF provided significant support for shipments. Russian officials reported that in October three tankers carrying diesel were already headed toward the United States, with part of the fuel leaving Russia before the American buyer made payment.

Sanctions against RDIF were imposed by the Biden administration in the early days of Russia's full-scale invasion of Ukraine in February 2022. At that time, the U.S. Treasury Department characterized the fund as an instrument of kleptocracy and a "cash register" for President Vladimir Putin. The current American official described RDIF head Kirill Dmitriev as a "useful intermediary" in resolving the war.

On October 9, the U.S. Treasury Department approved the sale and import of Russian diesel fuel — the license is valid until April 7, 2027. The decision came less than three weeks after Trump signed the "Lindsey O. Graham Russia and Iran Sanctions Act" on September 18, aimed at Russian energy and defense industries.

To achieve removal from the sanctions list, RDIF must prove that the grounds for its initial inclusion are no longer valid. Trump's special envoy Steve Witkoff previously publicly confirmed that Moscow and Washington are discussing future economic cooperation in parallel with negotiations on resolving the war.