Witkoff confirms US Treasury in direct talks with sanctioned Putin envoy Dmitriev

US special envoy Steve Witkoff publicly confirmed on Wednesday, 21 October, that the US Treasury Department is working directly with Kremlin economic envoy Kirill Dmitriev on potential trade and economic cooperation alongside Ukraine peace negotiations.

Witkoff made the disclosure during a meeting with Russian President Vladimir Putin in St. Petersburg. Addressing Dmitriev, he said: "Our Treasury Department is working with you now independently."

The St. Petersburg talks extended to Russian diesel shipments to the United States, financial arrangements and potential fertiliser exports. Witkoff described the contacts as an indication of opportunities that could open if US-Russia relations improve, adding that Washington was also discussing possible post-war economic developments with Ukrainian officials.

The disclosure is significant because the Treasury Department sanctioned Dmitriev and his institution, the Russian Direct Investment Fund, in February 2022, designating the fund as part of the financial network supporting Putin's government. Treasury also administers the broader US financial sanctions regime imposed following Russia's full-scale invasion of Ukraine that year.

Witkoff did not specify whether the Treasury contacts concerned sanctions relief, investment, banking arrangements or specific commercial deals, and did not identify the Treasury officials involved. Dmitriev serves as chief executive of the Russian Direct Investment Fund and as Putin's special representative for international economic cooperation.