US weighs lifting sanctions on Russia’s state-backed investment fund after diesel deal: Report

The Trump administration is considering lifting sanctions on Russia's flagship government investment fund as Washington and Moscow discuss improving relations and ending the war in Ukraine, The New York Times reported.

Russian officials have pushed for the move as part of wider talks involving shipments of Russian diesel to the United States. The Russian Direct Investment Fund (RDIF), which has invested billions of dollars in Russian companies, is headed by Kirill Dmitriev.

A US official confirmed that the administration was reviewing the fund's request through established procedures to “improve US-Russia relations and help end the war”. The official described Dmitriev as “a helpful envoy” to US negotiators involved in peace discussions.

Lifting sanctions on the multibillion-dollar fund would mark a significant shift in Washington's economic pressure campaign against Moscow, which has sought to use financial restrictions to influence Russia's actions.

The fund has invested billions of dollars in Russian businesses, often alongside investors from the Middle East and other regions. The latest discussions indicate that Moscow is seeking to use diplomatic engagement over Ukraine to secure broader economic benefits.

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Three Russian diesel tankers head to US

Three tankers carrying Russian diesel are heading to the United States, Russian Deputy Prime Minister Alexander Novak said on Tuesday.

"At present, three tankers" carrying Russian fuel are on their way to the United States, Novak told reporters.

The vessels appear to be the Talisman, sanctioned by the US and European Union; the Leruo, sanctioned by the UK and EU; and the Agioi Fanendes, according to maritime tracking platform Kpler.

The ships are carrying a combined 924,000 barrels of diesel, equivalent to roughly one-third of the US transportation sector's daily diesel consumption.

US President Donald Trump reached an agreement with Russian President Vladimir Putin this month to ease sanctions in exchange for Moscow releasing diesel onto global markets.

The move was seen as an attempt to lower fuel prices for American consumers ahead of the US midterm elections on November 3. However, it drew strong criticism from Ukraine and its allies.

Further sanctions relief for the RDIF would mark a significant shift in Washington's economic pressure campaign against Moscow, as Russia seeks broader economic benefits through ongoing diplomatic talks.