U.S. and Russia in talks to lift sanctions on Russian investment fund

On Wednesday, October 28, 2026, Kremlin foreign policy advisor Yury Ushakov confirmed that ongoing negotiations are being held between the administration of U.S. President Donald Trump and Russia regarding the potential lifting of American sanctions against Russia's primary state investment fund. According to Ushakov, Kirill Dmitriev, the head of the Russian Direct Investment Fund and a special envoy for President Vladimir Putin, is actively participating in these discussions, which have been underway for some time. While Ushakov acknowledged the dialogue, he noted that the final outcome remains uncertain.

The New York Times reported on the same day that the Trump administration is actively considering this policy shift. This development follows recent actions by the U.S. government to ease energy-related restrictions. Earlier this month, President Trump announced that Russia would be permitted to export diesel fuel to the U.S. market, leading to the temporary lifting of specific oil-related sanctions. On Tuesday, Russian Deputy Prime Minister Alexander Novak announced the departure of a fourth diesel-carrying tanker, further underscoring the shift in energy trade relations between the two nations.