Trump says sanctions against Russia to be lifted 'at some point'

Sanctions against Russia will be lifted "at some point," President Donald Trump said on Feb. 25 during a press briefing at the White House.

Trump's comments come as the U.S. and Russia renew contact between officials, including face-to-face discussions on ending the war in Ukraine, reopening embassies in Washington and Moscow, and resuming economic cooperation.

"No, we haven't lifted any sanctions on anybody… I guess it will be at some point, but right now, we haven't agreed to lift sanctions on anybody," Trump said.

Russia has been extensively targeted by Western sanctions since the launch of its full-scale invasion of Ukraine.

The Biden administration and the U.K. imposed in January their most extensive sanctions yet on Russia's oil sector, targeting nearly 200 vessels in the "shadow fleet," key oil companies, and related entities.

These measures, announced by the Office of Foreign Assets Control (OFAC) on Jan. 10, have already impacted the global oil market, pushing Brent crude prices up by nearly $5 per barrel.

Trump previously said that he would likely impose additional sanctions against Russia if Russian President Vladimir Putin fails to negotiate a peace deal with Ukraine.

The Trump team is reportedly weighing two primary approaches, according to Bloomberg.

The first set of policy recommendations suggests that, if a resolution to the war appears possible, the administration should focus on good-faith measures to benefit sanctioned Russian oil producers that could help seal a peace deal.

The second option would involve expanding sanctions to exert maximum pressure, increasing leverage over Moscow.