The White House is reportedly considering ending the price cap on Russian oil as part of a potential peace deal
US President Donald Trump’s administration has reportedly been exploring ways to ease sanctions on Russia as part of a broader effort to facilitate peace negotiations over Ukraine, Bloomberg has reported.
The US has imposed multiple rounds of sanctions on Moscow since 2022, targeting major financial institutions and the energy sector in response to the escalation of the Ukraine conflict. Last week, Trump stated that he is “strongly considering” imposing additional banking sanctions and tariffs on Russia to push for a peace settlement.
However, Bloomberg has claimed, citing anonymous sources, that Trump’s advisers are also looking at what sanctions the US could lift or tweak in order to encourage Moscow to agree to a ceasefire. These steps reportedly include potentially lifting the $60-per-barrel price cap on Russian oil as part of a sanctions relief plan.
The outlet’s sources noted that the prospect of the US easing some sanctions imposed on Russia does not preclude Washington from also “tightening the screws on Moscow” through alternative measures.
Reuters also reported similarly that Trump’s team is assessing ways it could ease sanctions on Russia’s energy sector as part of a broader plan to quickly roll back restrictions in the event of a peace deal on Ukraine.
Russian officials have repeatedly dismissed the impact of Western sanctions, with President Vladimir Putin stating that they have not significantly harmed the Russian economy and have only made it more resilient.
He has also reiterated multiple times that Russia remains open to peace talks and has blamed Kiev for refusing to negotiate, particularly after Vladimir Zelensky legally banned negotiations with the leadership in Moscow.
Putin has also stressed that while Moscow is ready to engage, it will insist on securing its strategic objectives and resolving the root causes of the Ukraine conflict. “We don’t want anything that belongs to others, but we also won’t give up what’s ours,” the Russian president has said.
