US prepares new sanctions relief for Russia to restart peace talks - FT
The administration of US President Donald Trump has proposed that European countries unfreeze part of Russian state assets and transfer them under US control to restart peace talks on Ukraine. Simultaneously, Washington is considering new sanctions relief for the oil sector, in particular for vessels of the so-called shadow fleet.
This was reported by the Financial Times citing four sources familiar with the talks.
The initiative was presented last week during meetings in Miami involving representatives of the US, Ukraine, France, Germany, the UK, the European Union and NATO. Trump's special envoy Steve Witkoff and the American president's son-in-law Jared Kushner proposed several mechanisms for unfreezing Russian funds.
One option involves transferring part of Russia's frozen assets to a special financial fund managed by Washington. The American side views this mechanism as part of a broader peace agreement. The final terms for using the funds have not yet been determined.
European participants in the talks rejected the proposal. They opposed transferring control of Russian assets to the US and returning any part of them to Moscow.
After Russia's full-scale invasion, Western countries froze approximately €260 billion of Russian state assets, most of which are in the European Union. European leaders had previously agreed to use these funds for Ukraine's reconstruction if Russia refuses to pay reparations. A decision to unfreeze would require the consent of all 27 EU countries.
In parallel, the Trump administration is considering easing sanctions on shadow fleet vessels that transported oil and petroleum products from Russia, Iran and Venezuela. As Reuters reported citing an American official, Washington is studying such a step to reduce record-high global shipping freight rates.
Both initiatives emerged after the so-called diesel agreement between Trump and Vladimir Putin, announced on October 9. The American president then agreed to supply Russian diesel fuel to the world market, and the US Treasury Department issued a temporary license that eases the relevant sanctions restrictions.
The decision drew criticism from Kyiv. Ukrainian President Volodymyr Zelenskyy said that easing sanctions without stopping Russian aggression creates additional sources of revenue for Moscow and allows it to continue funding the war.
Unlike the already implemented sanctions relief for diesel fuel, unfreezing Russian assets and changing restrictions for the shadow fleet remain at the discussion stage for now. European partners did not agree with the American proposal on assets.
Source: Financial Times, Reuters, Axios