Washington may lift sanctions on the fund called "Putin's secret slush fund" - NYT
The Donald Trump administration is considering the possibility of lifting sanctions on the Russian Direct Investment Fund, headed by Kirill Dmitriev. According to The New York Times sources, Moscow is demanding the removal of restrictions for the fund to participate in delivering Russian diesel to the US.
Washington may lift sanctions imposed on the fund called "Putin's slush fund" — NYT
According to one of the publication's interlocutors, this process requires proving that the reasons that served as the basis for imposing restrictions on the fund have lost their force. For now, there is no information that a final decision on lifting the sanctions has been made.
The newspaper assessed this discussion as an attempt by the Kremlin to use diplomatic processes regarding the war in Ukraine to advance its economic interests.
The Russian Direct Investment Fund was established in 2011 to attract foreign investment into the country. One of its projects was the "Sputnik V" vaccine against COVID-19.
The head of the fund, Kirill Dmitriev, is considered an important participant in Russia–US negotiations. He has met several times with representatives of the Trump administration, promoting potential joint business projects between the two countries.
The Joe Biden administration imposed sanctions on the fund four days after Russia launched a full-scale attack on Ukraine. At the time, the US Department of the Treasury stated that although it is officially a sovereign investment fund, many consider it to be Vladimir Putin's "slush fund."
On October 9, following negotiations with Vladimir Putin, Donald Trump announced that an agreement had been reached on the supply of Russian diesel to the US and world markets.
According to his statement, Russia must supply: immediately more than 300 thousand tons; another 500 thousand tons during November; and 1 million tons of diesel thereafter.
Trump said that depending on the condition of Russian oil refineries, an additional 3 million tons of fuel could subsequently be supplied in the short term. He stated that these supplies would lower diesel prices.