US and Russian officials discussed energy deals between the two countries during multiple rounds of talks in August, Reuters reports, citing sources familiar with the talks. 

The deals were presented as incentives for Russia to agree to a peace deal with Ukraine and for the US to ease sanctions on Russia. 

The discussions reportedly took place during US envoy Steve Witkoff’s visit to Moscow on 6 August, and again briefly during the Trump-Putin summit in Alaska on 15 August. 

“The White House really wanted to put out a headline after the Alaska summit, announcing a big investment deal,” one of the sources said, according to Reuters. 

Western sanctions have left Russia largely cut off from international investment and cooperation in the energy sector since the country’s full-scale invasion of Ukraine in 2022. 

Russia seeks Exxon return and US equipment access

Three major deals could restore Russia’s energy lifelines following years of sanctions:

• US energy company Exxon Mobil re-entering Russia’s Sakhalin-1 oil and gas project;
• Russia purchasing US equipment for LNG projects, including Arctic LNG 2, which is under western sanctions;
• US purchasing Russian nuclear-powered icebreaker vessels.

On the same day as the Alaska summit, Putin signed a decree opening up the Sakhalin-1 project to foreign investment. Exxon exited Russia in 2022 following the invasion of Ukraine, abandoning its 30% share in the Sakhalin-1 project. 

One of the sources also said that the US wants Russia to rely more on US technology, rather than Chinese, in an effort to weaken Russia-China relations. 

Trump diplomacy mixes peace talks with financial incentives

Trump and his national security team are engaging with Russian and Ukrainian officials to end the war, a White House official told Reuters in response to questions about the deals. They declined to further discuss the deals publicly. 

The 6 August meeting between Witkoff and Putin was the final round of talks before President Trump’s “deadline” for agreeing to a peace deal, for which he threatened heavier sanctions on Russia. 

The 15 August meeting between the US and Russian presidents was the highest-level diplomatic forum since the beginning of the full-scale Russian invasion of Ukraine in 2022. The stated goal of the American side was to negotiate a peace deal between Ukraine and Russia.