Overview

• Kirill Dmitrijew, a Kremlin envoy and head of the Russian Direct Investment Fund, has traveled to Washington to advocate for partial U.S. sanction relief.
• The negotiations are tied to Russia's conditional willingness to agree to a ceasefire in Ukraine, as outlined by President Vladimir Putin in March 2025.
• Talks remain at an impasse, with U.S. President Donald Trump reportedly frustrated by the lack of progress in resolving the Ukraine conflict.
• Dmitrijew, who is personally under U.S. sanctions, is also discussing potential economic cooperation with Trump’s representatives, including Steve Witkoff.
• U.S.-Russia trade has plummeted from $35 billion in 2021 to $3.5 billion in 2024, highlighting the economic impact of sanctions and the challenges of rebuilding relations.