The White House is reportedly working on a plan to lift sanctions on Russia and some oligarchs
The United States is reportedly working on a potential plan to provide sanctions relief to Russia as President Donald Trump aims to restore relations with Moscow and seek an end to the war in Ukraine, according to a U.S. official and another source familiar with the matter.
The White House has instructed the State and Treasury Departments to create a list of sanctions that could be eased, which U.S. officials will discuss with Russian representatives in the coming days. This is part of broader efforts by the administration to improve diplomatic and economic relations with Moscow.
Sources say that the sanctions offices are preparing a proposal to lift certain sanctions on specific entities and individuals, including Russian oligarchs. While such "options papers" are often drafted for sanction-related matters, the recent request from the White House highlights Trump and his team's openness to reducing sanctions on Russia as part of a potential agreement.
It remains unclear what the U.S. might seek in exchange for any sanctions relief.
The White House, State Department, Treasury Department, and the Russian embassy in Washington have yet to comment on the matter.
Last year, the Kremlin described U.S.-Russian relations as being "below zero" during the administration of Joe Biden, a Democrat who has supported Ukraine with military aid and imposed severe sanctions on Russia in response to its invasion of Ukraine in 2022.
However, Trump, who has promised a swift resolution to the war, has disrupted U.S. policy by initiating talks with Moscow, starting with a February 12 phone call to Russian President Vladimir Putin, followed by meetings between U.S. and Russian officials in Saudi Arabia and Turkey.
In January, Trump warned that he would escalate sanctions on Russia if Putin refused to negotiate an end to the war in Ukraine. More recently, Trump administration officials have publicly acknowledged the possibility of reducing sanctions on Russia.
Treasury Secretary Scott Bessent mentioned during a February 20 interview that Russia could receive economic relief depending on its approach to negotiations in the coming weeks. Trump also indicated on February 26 that Russian sanctions could eventually be eased.
The White House requested that State and Treasury officials draft a plan for possible sanctions relief before Trump extended the state of emergency over the Ukraine situation last week.
This emergency, which sanctions assets and individuals involved in Russia’s war efforts, was first imposed by President Barack Obama in March 2014 after Russia annexed Crimea.
It is still unclear which specific Russian sanctions the Trump administration might consider lifting first.
Trump could potentially issue an executive order to begin easing certain Russian sanctions, though he would also need Congressional approval to lift sanctions on specific entities, according to John Smith, a partner at the Morrison Foerster law firm and former head of the Treasury Department's Office of Foreign Assets Control.
Since its invasion of Ukraine in 2022, Russia has built a wartime economy with increased military spending and industrial production. However, experts note that Russia’s economy remains vulnerable and in urgent need of Western sanctions relief.
Russia has expressed its openness to economic cooperation, with the Kremlin suggesting last week that it is willing to engage in deals to develop its vast rare earth metal deposits, following Putin's remarks about potential collaboration with the U.S.