U.S. Considers 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 matter. An unnamed U.S. official confirmed to the publication that the Treasury Department is reviewing the fund's delisting application as part of standard procedures.

According to sources, the Russian side had been pressing for this step during negotiations over RDIF's participation in Russian diesel fuel deliveries to the United States. Russian Deputy Prime Minister Alexander Novak said on October 23 that RDIF had provided significant support to the shipments. Russian officials said that in October three tankers carrying diesel had already set sail toward the U.S., with some of the fuel leaving Russia before the American buyer had 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 the time, the U.S. Treasury characterized the fund as an instrument of kleptocracy and a 'cash register' for President Vladimir Putin. The current U.S. official described RDIF head Kirill Dmitriev as a 'useful intermediary' in resolving the war.

On October 9, the U.S. Treasury authorized the sale and import of Russian diesel fuel, with the license valid through April 7, 2027. The decision came less than three weeks after Trump signed the 'Lindsey O. Graham Russia-Iran Sanctions Act' on September 18, which targeted Russian energy and defense industries.

To achieve removal from the sanctions list, RDIF must demonstrate that the grounds for its original inclusion are no longer valid.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