Trump Weighs Lifting Sanctions on Russian Direct Investment Fund
Donald Trump's administration is considering removing sanctions on the Russian Direct Investment Fund (RDIF), The New York Times reports. Moscow wants the fund to be able to take part in supplying Russian diesel to the United States.
The administration of U.S. President Donald Trump is weighing whether to lift sanctions on the Russian Direct Investment Fund (RDIF), The New York Times reports, citing sources familiar with talks between Russia and the United States. The fund is a state-linked investment vehicle, and its head, Kirill Dmitriev, is a key participant in the negotiations between the two countries.
What Moscow wants
According to the sources, Russia is pressing for sanctions relief specifically for RDIF so that it can take part in supplying Russian diesel fuel to the United States.
One source said the U.S. Treasury Department is reviewing the fund's application under its standard procedures. RDIF will have to demonstrate that the reasons for which it was sanctioned no longer apply.
The fund and its chief
RDIF was founded in 2011 to attract foreign investment to Russia. The best-known project it helped develop is the Sputnik V coronavirus vaccine. Dmitriev leads the Kremlin's push for possible joint business ventures between the two countries. He and his wife, Natalya Popova, are believed to be close to Russian President Vladimir Putin's younger daughter, Katerina Tikhonova.
Why it was sanctioned
The administration of President Joe Biden imposed the sanctions on RDIF on February 28, 2022, four days after Russia's full-scale invasion of Ukraine. At the time, the Treasury Department said that, while officially a sovereign wealth fund, RDIF is widely considered a slush fund for Putin and emblematic of Russia's broader kleptocracy.
