Washington:The United States is contemplating lifting sanctions on Russia's state-backed investment fund in the context of ongoing discussions about Russian diesel shipments to the US. The consideration comes as Russian officials have urged Washington to remove sanctions on the Russian Direct Investment Fund (RDIF), which has been pivotal in facilitating these fuel shipments.

According to Anadolu Agency – English, a US official confirmed that the RDIF's application for sanction relief is under review following established procedures. This move is seen as a step towards improving US-Russia relations and potentially contributing to ending the war. The official also highlighted the role of Kirill Dmitriev, the RDIF's chief and Russian President Vladimir Putin's special envoy for international economic cooperation, describing him as a 'helpful envoy' in the negotiations aimed at resolving the conflict in Ukraine.

The sanctions on the RDIF were originally imposed by the administration of former US President Joe Biden shortly after the Ukraine war began in February 2022, labeling the fund as a 'slush fund' for President Putin. Recently, the fund has been instrumental in organizing Russian diesel shipments to the US, following a suspension of sanctions on Russian diesel by former President Donald Trump earlier this month.

Russian Deputy Prime Minister Alexander Novak announced that three tankers carrying Russian diesel have departed for the US, with the significant support of Dmitriev's fund. Despite this, US buyers have not yet completed payments for the shipments. The Treasury Department has stated that the current measures already authorize transactions involving Russian diesel, while the RDIF's request for sanction relief is undergoing the department's standard review process.