Washington weighs sanctions rollback on Russia, insiders say

The US is drafting a plan to potentially ease sanctions on Russia as President Donald Trump seeks to restore ties with Moscow and push for an end to the war in Ukraine.

US official and another source familiar with the matter told Reuters that the White House has instructed the State and Treasury departments to compile a list of sanctions that could be lifted, per Caliber.Az.

This list would serve as a basis for discussions between US and Russian officials in the coming days, as part of broader diplomatic and economic negotiations between Washington and Moscow.

Officials working on sanctions policy are now drafting a proposal that includes lifting restrictions on select entities and individuals, including some Russian oligarchs. While "options papers" are commonly prepared by sanctions teams, the White House’s specific request for such a proposal highlights Trump's willingness to consider easing sanctions as part of a potential deal with Russia. However, it remains unclear what Washington might seek in return.

Russia, one of the world’s largest oil producers, could see significant economic relief if US sanctions on its energy sector were loosened. This move could also help stabilize global fuel prices if Trump follows through on his pledge to crack down on oil exports from Iran, an OPEC member.

The White House, the State Department, the Treasury Department, and the Russian embassy in Washington have not yet responded to requests for comment.

Under the previous administration, the Kremlin described US-Russia relations as being "below zero," as then-President Joe Biden backed Ukraine with military aid and imposed severe sanctions on Moscow following its 2022 invasion. However, since taking office, Trump has swiftly shifted US policy by opening talks with Russia. His diplomatic outreach began with a phone call to Russian President Vladimir Putin on February 12, followed by meetings between US and Russian officials in Saudi Arabia and Türkiye.

Since the 2022 invasion, US-led Western sanctions have targeted Russia’s oil and gas industry, restricting its revenue and limiting its ability to finance the war. These measures included a $60-per-barrel price cap on Russian oil exports and designations against Russian energy companies and oil transport vessels. Biden’s administration also imposed its toughest sanctions yet on January 10, just before leaving office.

In January, Trump warned he could escalate sanctions against Russia if Putin refused to negotiate an end to the war in Ukraine. However, in recent weeks, officials within Trump’s administration have signalled a willingness to ease some restrictions. Treasury Secretary Scott Bessent stated in a February 20 interview with Bloomberg Television that Russia could receive economic relief, depending on how it approaches negotiations. Trump himself told reporters on February 26 that sanctions on Moscow could be lifted "at some point."

According to US sources, the White House requested State and Treasury officials to draft a potential sanctions relief plan before Trump extended the state of emergency over the situation in Ukraine last week. This emergency measure, which sanctions specific individuals and assets linked to Russia’s war, has been in place since March 2014, when Moscow annexed Crimea during Barack Obama’s presidency.

It remains unclear which specific sanctions the Trump administration might lift first. Experts suggest that Trump could issue an executive order to initiate the process, but some measures—particularly those targeting specific Russian entities—would require congressional approval.

Since 2022, Russia has managed to sustain its wartime economy through increased military spending and industrial production. However, analysts warn that its economy remains vulnerable and in need of Western sanctions relief. Moscow has expressed interest in greater economic cooperation, with the Kremlin recently highlighting its vast rare earth metal deposits and openness to development deals — especially after Putin floated the idea of collaboration with the US.

Any formal economic agreement between Washington and Moscow would likely hinge on some degree of sanctions relief.

Meanwhile, Trump has been seeking a minerals deal with Ukraine, which holds significant lithium and rare earth mineral reserves. This deal was expected to serve as partial compensation for the billions of dollars in US aid to Kyiv. However, negotiations fell apart following a tense Oval Office meeting between Trump and Ukrainian President Volodymyr Zelenskyy on February 28, leaving the deal unsigned.

By Tamilla Hasanova