The administration of US President Donald Trump is discussing whether to revise sanctions against the Russian Direct Investment Fund, according to people familiar with the deliberations cited by The New York Times. The proposal is under consideration; Washington has not announced a decision to remove the restrictions.
The RDIF is a state investment fund used to attract overseas capital and participate in major Russian investment projects. US sanctions imposed following Russia's full-scale invasion of Ukraine in 2022 have limited the ability of American companies and financial institutions to transact with it.
The debate comes amid US–Russian contacts concerning the war and possible future commercial relations. Easing restrictions on the investment fund could facilitate certain forms of financial cooperation, but it would not, by itself, remove other sanctions against Russian banks, businesses or individuals.
The discussions also have political implications. The fund plays a role in Russia's state investment strategy, and Moscow could regard sanctions relief as an important negotiating outcome. Deliberations within the US administration should not, however, be confused with an agreement between Washington and Moscow.
The existing restrictions remain in force. Any adjustment would require decisions by the relevant US authorities, which would then determine what transactions, institutions and counterparties would be covered.