Trump considers lifting sanctions on Putin’s 'black budget' - NYT
Donald Trump, President of the US (photo: Getty Images)
The administration of US President Donald Trump is considering lifting sanctions on the Russian Direct Investment Fund (RDIF), according to The New York Times.
The Russian Direct Investment Fund is a state-owned entity that invests in Russian companies and joint projects with foreign investors.
The fund was placed under US sanctions in 2022 by the Joe Biden administration, which labeled it Vladimir Putin’s black box and an instrument for spreading Russian influence abroad.
A US official and sources familiar with the negotiations told the publication that Washington is reviewing the fund’s application for sanction relief as part of broader talks with Moscow.
A source confirmed to the publication that this issue is being examined through established procedures. The reason cited is the desire to improve relations with Russia and facilitate the end of the war.
No final decision on lifting the restrictions has been made yet. To achieve this, the fund must prove that the circumstances leading to the imposition of sanctions no longer exist.
Fund’s role in the diesel supply deal
The fund is headed by Kirill Dmitriev, a representative of the Russian president and one of the Kremlin’s key delegates in negotiations with the Trump administration, who is participating in talks with Washington on economic agreements.
Currently, his organization is helping to organize the supply of Russian diesel fuel to the US, facilitating financial matters and processing payments.
According to the Russian side, the US Treasury Department requested the fund’s involvement in the diesel deal. At the same time, the fund separately applied for the cancellation of sanctions against itself.
Following the agreement between Trump and Putin on October 9, the US Treasury temporarily permitted transactions involving Russian diesel fuel loaded onto tankers during a specified period. This permit made supplies possible but does not mean the automatic lifting of all restrictions on the fund.
Criticism and potential consequences
The review of the application is taking place against the backdrop of the Trump administration’s hopes that economic agreements will help create conditions for ending the war against Ukraine. The Russian side itself called the diesel deal an example of restored cooperation, and Dmitriev spoke out against legislative restrictions on joint projects.
Meanwhile, critics note that the Kremlin is receiving economic benefits without abandoning its demands regarding Ukraine.
Former US National Security Council official Eric Green emphasized that lifting sanctions would signal Washington’s retreat from its position of maintaining economic pressure on Russia until the war is resolved.
Earlier, Donald Trump and the Russian leader agreed on the supply of Russian diesel fuel to the global market.
Furthermore, Trump has hinted at further easing of sanctions against Russia and is considering making concessions to Moscow regarding the export of Russian fertilizers.
