U.S. Department of the Treasury
The U.S. Department of the Treasury is the federal executive department responsible for the country's fiscal policy, taxation, and management of the public debt. It is headed by the Secretary of the Treasury, a member of the President's Cabinet. The department also oversees currency production, coin and stamp issuance, and regulates financial institutions and administers economic sanctions.
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Trump suspends Russia sanctions under "Graham Law" days before they were to take effect
President Donald Trump on October 16, 2026 signed an executive order suspending the application of sanctions, restrictions, and tariffs against Russia that had been due to take effect on October 18 under the Lindsey O. Graham Sanctioning Russia and Iran Act. Using a waiver provision in the law, Trump certified to Congress that the suspension serves the national interests of the United States. The order keeps the new measures formally on the books but does not apply them for now, while previously imposed US sanctions against Russia remain in force. Critics including the law's co-author Senator Richard Blumenthal and Ukrainian President Volodymyr Zelensky condemned the move; Russia's Kirill Dmitriev welcomed it as a "truly historic moment."
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U.S. extends Lukoil sanctions exemptions for foreign gas stations until April 2027
The U.S. Department of the Treasury extended general licenses allowing certain activities with sanctioned Russian oil company Lukoil until April 24, 2027. The licenses permit Lukoil-branded gas stations outside Russia and named Bulgarian Lukoil entities to continue operating while the underlying sanctions remain in force. The decision came about a week after President Donald Trump announced a deal for Russian diesel supplies to U.S. and global markets, drawing bipartisan U.S. criticism and sharp pushback from EU foreign ministers.
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Zelensky offers to halt strikes on Russian oil refineries if Russia stops hitting Ukrainian energy
On 11 October, President Volodymyr Zelensky said Ukraine is ready to stop strikes on Russian oil refineries and other energy infrastructure if Russia reciprocally halts strikes on Ukrainian energy. The offer came the same day U.S. President Donald Trump announced that Ukraine and Russia had agreed to an immediate 'energy ceasefire.' Zelensky said the U.S. announcement was news to him and that the Armed Forces of Ukraine had received the relevant orders. The same day, Russia struck the TEC-5 thermal power plant in Kharkiv, continuing a week in which Zelensky said Russian forces launched roughly 1,450 aerial bombs, 75 missiles and more than 1,640 strike drones at Ukraine.
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Miami talks on Ukraine end after one day as Trump announces Russian diesel deal with Putin
On 9 October, US, Ukrainian, European and NATO representatives met in Miami to discuss ways to end Russia's war before winter, but the planned two-day meeting ended after a single day. The Ukrainian delegation cut short its visit and headed home after President Trump announced a phone-call deal with Vladimir Putin to supply Russian diesel fuel to US and world markets, prompting sharp criticism from Kyiv.
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US and Russia discussed American investor for Nord Stream, but White House denies talks and Germany pushes back
Reuters reported that US presidential envoy Jared Kushner and Kremlin-linked adviser Kirill Dmitriev have discussed attracting an American investor to restore the Nord Stream gas pipelines, meeting in Moscow and New York in recent weeks. The White House said any Russia deals must go through US development finance and Treasury bodies and that there have been no recent Nord Stream-specific talks. Germany said the pipelines are under European sanctions and that Berlin has no wish to approve their resumption.
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US-Russia Ukraine talks expand to include multibillion-dollar Lukoil asset deal
US-Russia negotiations on ending the war in Ukraine have expanded to include a multibillion-dollar deal involving international assets of Russian oil company Lukoil. Vladimir Putin raised the issue during a September 5 meeting with US negotiators Steve Witkoff and Jared Kushner at the Kremlin, proposing it as a way to show Russians they can do business with the United States. The deal, covering oil fields, refineries, and gas stations worldwide, requires approval from both the US government and the Kremlin.
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U.S. Treasury sanctions Russia's A7 network, designates it a transnational criminal organization
The U.S. Treasury imposed new sanctions on the A7 financial network on October 1, 2026, designating it a transnational criminal organization used by Russia and Iran to evade sanctions. The measures, announced under Operation Economic Outcast, freeze A7 assets under U.S. jurisdiction and target the companies-посередники that move funds on its behalf.
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US envoys visit Kyiv for first time, signal return to trilateral talks but report no breakthrough
US special envoys Steve Witkoff and Jared Kushner travelled to Kyiv on 6 September 2026 for their first visit to Ukraine since Donald Trump's second presidential term began, after meeting Vladimir Putin in Moscow on 5 September. They held three rounds of talks with President Volodymyr Zelensky, joined in the second round by national security advisers from France, Germany and the United Kingdom, and announced a planned return to the US–Ukraine–Russia trilateral format and US support for a 'winter package' of assistance for Ukraine. Zelensky reported receiving a message that 'the Russians are ready to negotiate' but remained sceptical, while the Kremlin, Bloomberg sources and the Institute for the Study of War said the Moscow talks produced no substantive concessions.