Washington proposes frozen Russian assets and Lukoil stake sale for limited Ukraine ceasefire
The United States is offering to release billions of frozen Russian assets, allow a sale of Lukoil stakes and lift Belarus fertilizer sanctions in exchange for a partial cease-fire between Russia and Ukraine.
In an effort to coax Moscow into a partial cease-fire with Kyiv, Washington has drafted a package of economic concessions. The first element would free up multiple billions of dollars in Russian sovereign assets that have been frozen by Western nations. The second proposes that a group of U.S. and Gulf investors purchase selected shares of the Russian oil giant Lukoil, reviving a previously discussed transaction.
The third offers to permit Belarus to resume exporting potassium fertiliser, easing sanctions on Minsk. The talks are being conducted by Jared Kushner and Steve Witkoff on behalf of the United States. Ukrainian officials have not rejected the proposal but have asked for comparable disbursements from the frozen assets and additional guarantees of military aid should Russia breach the agreement.
Why it matters
The deal could reshape sanctions on Russia and influence the course of the Ukraine conflict.
How this story developed
- Sep 29 US officials describe talks with Russian envoy as constructive amid Ukraine war
- Oct 8 Senator Marco Rubio told Kathimerini that a negotiated settlement to the Russia-Ukraine conflict appears out of reach, leaving the war in a strategic stalemate.
- Oct 9 India shifted from a labor‑exchange agreement with Russia to actively mediating a cease‑fire between Russia and Ukraine.
- Oct 9 Dmitrijev met U.S. officials in Washington to discuss post‑war energy cooperation.
- Oct 9 Donald Trump announced on Truth Social that he reached an agreement with Vladimir Putin for Russia to supply the United States and global markets with diesel fuel in multiple shipments.
- Oct 9 Ukrainian delegation members Budanov, Kyslytsya, Arakhamia and Umerov travel to the United States for talks with Kushner and Witkoff.
- Oct 10 U.S., Ukrainian and European officials met in Miami on Oct 9 to discuss protecting Ukraine’s energy infrastructure and related issues.
- Oct 10 Donald Trump said Ukraine should install a new leader capable of striking a deal to end the war, criticizing President Volodymyr Zelensky’s approach.
- Oct 10 Zelensky slammed Trump and Ukrainian drones attacked the Novoshakhtinsk oil terminal while Russia bombed a residential building in Zaporizhzhia.
- Oct 10 Burnham told Zelensky the last 24 hours had been difficult for Ukraine, referring to the U.S. Russian diesel deal.
- Oct 10 Miami conference ended early after the diesel sanction exemption was announced.
- Oct 11 Rubio reiterated that a diplomatic solution looks unlikely.
- Oct 11 Trump linked his call for a new Ukrainian leader to a diesel export arrangement with Russia.
- Oct 11 The U.S. Treasury Department issued a waiver allowing limited trade in Russian diesel.
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