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Kremlin aide says discussions underway with US to lift sanctions on Russian investment fund - Headlines news and analysis from Global Banking & Finance Review
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Kremlin aide says discussions underway with US to lift sanctions on Russian investment fund

Published by Global Banking & Finance Review

Posted on October 29, 2026

2 min read

· Last updated: October 29, 2026

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Kremlin Confirms Talks With US to Lift Sanctions on Russian Investment Fund

Ongoing Negotiations and Recent Developments in US-Russia Sanctions

Current Status of Sanctions Discussions

Oct 28 (Reuters) - Discussions on the US lifting sanctions on Russia's flagship investment fund are underway with the administration of US President Donald Trump, Kremlin foreign policy aide Yuri Ushakov was quoted as saying on Wednesday.

Ushakov, quoted by Russian news agencies, said the head of the Russia Direct Investment Fund, Russian presidential envoy Kirill Dmitriev, was actively pursuing talks on lifting the sanctions.

Statements from Russian Officials

"This conversation is going on. It has been going on for a while. I don't know what the outcome will be," Ushakov was quoted as saying.

"Dmitriev is active in his contacts and that's why the issue is under discussion. It already got into the media a few days ago and discussions are still proceeding."

US Considerations and Media Reports

The New York Times reported earlier in the day that the Trump administration was considering abandoning the sanctions.

Recent Concessions and Policy Changes

Washington has made concessions to Moscow in terms of sanctions imposed following Russia's February 2022 invasion of Ukraine.

Temporary Lifting of Fuel Sanctions

Earlier this month, Trump announced that Russia would provide diesel for the US and world markets, temporarily lifting sanctions on Russian fuel. Russian Deputy Prime Minister Alexander Novak said on Tuesday that a fourth tanker of diesel would depart on Wednesday.

Executive Orders and Legislative Actions

Trump also issued an executive order waiving key Russia-related US sanctions and tariffs including duties on the country's goods and penalties for buying its oil and gas, that had been scheduled to go into effect under the legislation known as the Graham Act that he signed into law last month.

Reporting and Editorial Credits

(Reporting by Reuters; Editing by Stephen Coates)

Key Takeaways

  • Kremlin aide Yuri Ushakov said on October 28 that discussions with the U.S. on lifting sanctions on the RDIF have been underway 'for a while,' with outcomes still unclear (rbc.ru).
  • The talks coincide with Russia facilitating diesel shipments to the U.S. after President Trump waived sanctions on Russian fuel—an initiative linked to RDIF’s role in handling transactions and logistics (aa.com.tr).
  • The U.S. Treasury is reviewing RDIF’s delisting request under standard procedures; previously, RDIF was sanctioned by the Biden administration in February 2022, being labelled as an emblem of Russian kleptocracy (kyivpost.com).

References

Frequently Asked Questions

What is the main topic of the Kremlin's discussions with the US?
Discussions are focused on lifting US sanctions on the Russia Direct Investment Fund.
Who is involved in the talks to lift sanctions on Russia's investment fund?
Kremlin aide Yuri Ushakov, Russian envoy Kirill Dmitriev, and US officials are involved.
What recent concessions has Washington made regarding Russia?
Washington has temporarily lifted some sanctions on Russian diesel and waived certain tariffs and duties.
Has a final decision been reached in the lifting of sanctions?
No final outcome has been determined; discussions are ongoing.
What prompted the current discussions on sanction relief?
The discussions intensified after recent media reports and ongoing diplomatic contacts.

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