Russia Seeks Sanctions Relief Amid U.S. Negotiations

Amid talks with Washington, Russia is consulting businesses about which sanctions to prioritize for lifting. Payment restrictions top the list, although energy sanctions also pose challenges. The Kremlin calls for removal of all 'illegal' sanctions. Despite speculation, experts caution that lifting sanctions alone might not restore economic conditions.

Russia is engaging its domestic companies to identify which sanctions should be lifted in upcoming negotiations with the United States, as payment restrictions currently inflict significant economic stress.

In a push to alleviate sanctions, the Russian government distributed forms to businesses, requesting them to pinpoint the most damaging sanctions to their operations. Though unable to access the form itself, sources highlight that dollar access restrictions pose the most severe challenge.

Sanctions, implemented after Russia's 2022 incursion into Ukraine, have pressured the Russian economy, particularly in cross-border payments. While discussions of easing emerge, Renaissance Capital notes the process won't guarantee restoration of previous financial mechanisms.

(With inputs from agencies.)