Trump administration considers lifting sanctions on Russian Direct Investment Fund: NYT

The New York Times has reported that the administration of US President Donald Trump is considering lifting sanctions on the Russian Direct Investment Fund.

The United States imposed sanctions on the Russian Direct Investment Fund and its chief, Kirill Dmitriev, in 2022 following the start of Russia’s war on Ukraine, as part of Washington’s efforts to restrict Moscow’s access to international financing and investment.

The Russian Direct Investment Fund is one of Moscow’s main vehicles for attracting foreign investment and developing international economic partnerships. It is headed by Kirill Dmitriev, who was appointed in February 2022 as special envoy for international economic and investment cooperation by Russian President Vladimir Putin. Dmitriev has also played a role in US-Russia communications regarding the Ukraine conflict.

The United States and Russia are exploring joint economic projects, including nuclear-powered data centers, as well as cooperation in the energy and natural resources sectors.

The possible lifting of sanctions on the fund comes amid recent US moves to ease some restrictions on Russian energy supplies.

On October 16, Trump announced an agreement on Russian diesel supplies to global markets aimed at helping lower fuel prices, and signed an executive order exempting Russia from certain measures in new sanctions legislation.