The U.S. government is exploring ways to swiftly lift sanctions on Russia’s energy sector as part of contingency plans tied to potential peace negotiations to end the Ukraine war, according to two anonymous sources. The initiative aims to enable rapid sanctions relief if Moscow agrees to a deal, though officials stress that concessions from Russia remain a prerequisite.
While earlier reports indicated U.S. plans to lift sanctions on select Russian entities, the inclusion of Russia’s oil and gas industry—a cornerstone of its economy—signals a strategic shift. The White House has directed the Treasury Department to evaluate options for easing energy sanctions ahead of anticipated talks between President Donald Trump and Russian President Vladimir Putin, which Trump says could occur in Saudi Arabia in the coming weeks.
Russia, one of the world’s largest oil and gas producers, has faced stringent U.S.-led sanctions targeting its energy exports, including a $60-per-barrel price cap on crude. These measures aim to curb revenue funding Moscow’s war efforts. However, the Trump administration seeks to avoid delays seen in past sanction rollbacks, such as the 2019 lifting of restrictions on Russian aluminum giant Rusal, which caused market chaos and spiked prices.
The Treasury is also assessing the global oil market impact of Russia’s full return, including potential price fluctuations and shifts in trade dynamics as European buyers pivot to U.S. suppliers. Meanwhile, China and India continue purchasing Russian oil, though payment and insurance hurdles persist.
Trump has simultaneously threatened additional sanctions on Russia following recent attacks on Ukrainian energy infrastructure, underscoring the dual approach of pressure and preparedness for diplomacy. A broader U.S. sanctions review includes potential relief for certain Russian oligarchs and entities, though no action is expected without tangible progress toward peace.