The Trump administration is considering lifting United States sanctions on Russia’s Direct Investment Fund, the fund the US Treasury once described as widely considered a slush fund for President Vladimir Putin, according to a New York Times report on 28 October 2026. Treasury is reviewing the fund’s request under standard procedures.<\/p>\n\n\n\n
The same day, Kremlin foreign-policy aide Yuri Ushakov, quoted by Russian news agencies, told Reuters discussions are underway. He said, “This conversation is going on. It has been going on for a while. I don’t know what the outcome will be,” adding that RDIF chief and Putin envoy Kirill Dmitriev is actively pursuing the talks.<\/p>\n\n\n\n
RDIF was sanctioned on 28 February 2022, four days after Russia’s full-scale invasion of Ukraine. Treasury then described it as emblematic of Russia’s kleptocracy. Reports link the review to a deal for Russia to supply diesel to the United States and world markets. Earlier in October, Trump temporarily lifted fuel sanctions, and Russian Deputy Prime Minister Alexander Novak said a fourth diesel tanker would depart on Wednesday, 28 October.<\/p>\n\n\n\n
Why the story travels is the reversal it represents. The United States weighing relief for a fund its own Treasury branded Putin’s slush fund, tied to Russian diesel flowing while the Ukraine war continues, is a move critics will call a concession and supporters will call a peace lever. The Kremlin confirmation the same day makes it a two-sided story, not a single leak.<\/p>\n\n\n\n
What is not confirmed is whether sanctions will actually be lifted, what a diesel deal’s final terms would be, or whether relief would help end the Ukraine war. No final decision has been announced, and Ushakov himself said the outcome is unknown. Do not state a dollar size for RDIF as confirmed.<\/p>\n\n\n\n
The review comes in the final week before the 3 November midterms, when foreign policy, energy prices and the Ukraine war are all part of the political debate. Whether Treasury proceeds, pauses or rejects the request will be watched in Washington, Moscow and Kyiv alike, because it would signal how the administration balances sanctions, energy and diplomacy.<\/p>\n\n\n\n
Sources: New York Times report, 28 Oct 2026, via summary; Reuters Kremlin confirmation, 28 Oct 2026, 20:51 EDT.<\/p>\n","protected":false},"excerpt":{"rendered":"
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