Russia seeks sanctions relief in landmark US talks in Riyadh
The Moscow Times reported on Wednesday that Russia seeks to have the U.S. ease sanctions on it and unfreeze state assets. The newspaper cited a diplomatic source familiar with Tuesday's meeting between U.S. and Russian delegations in Riyadh.
The Moscow Times, published in Amsterdam, reported that the Kremlin wants to regain access to approximately CAD 8 billion frozen in the U.S. This amount is part of the Central Bank's reserves held in dollar assets before the onset of the war. The West had imposed sanctions affecting CAD 402 billion in the Central Bank's foreign reserves, with about two-thirds of this amount blocked in Europe.
The Moscow Times' sources indicated that the Russian delegation in Riyadh requested the restoration of diplomatic missions and the recovery of diplomatic properties in the U.S. The Kremlin wants to reclaim two properties: New York and Maryland. During Barack Obama's administration in 2016, Russia was blocked from accessing them due to accusations that it used the properties for intelligence purposes.
A source told the news outlet that, for Putin, this matter goes beyond symbolism, as he sees it as a step toward restoring Russia's status in its relations with the United States.
Putin reportedly instructed the delegation that went to Saudi Arabia to maintain a "very friendly and, in some respects, even flattering tone towards their American counterparts and President Donald Trump personally" during the meeting, believing this approach would yield the most benefits.
The President of Russia demands Ukraine's neutral status, a change in the government in Kyiv, a reduction of the Ukrainian armed forces, and recognition of the annexation of Crimea and four occupied Ukrainian regions.
What was agreed in Riyadh
Let's recall that on Tuesday, in Riyadh, the capital of Saudi Arabia, the first high-level meeting between U.S. and Russian delegations since the start of the war in Ukraine took place. The American side was represented by Secretary of State Marco Rubio, National Security Advisor to the President Michael Waltz, and Special Envoy for the Middle East Steve Witkoff, who is also involved in contacts with Russia. At the negotiating table on the Russian side were Foreign Minister Sergey Lavrov and Putin's advisor on international policy, Yury Ushakov.
Before the talks, both sides emphasized that they did not expect concrete agreements in Riyadh. U.S. State Department spokeswoman Tammy Bruce assessed that the discussion would be "essentially a continuation of Trump's phone conversation with Putin (which took place last week), aiming to see whether we can move forward and what is possible."
At the conclusion of the talks, the U.S. Secretary of State assessed that the talks were a "first but important step in a difficult, long journey." Rubio also expressed confidence that Russia is ready to start serious discussions about ending the war in Ukraine.
The Secretary of State informed that the U.S. and Russia agreed to four things: establishing a consultation mechanism to address disputed issues in bilateral relations and normalize embassy operations, appointing negotiation teams to discuss ending the war in Ukraine, initiating high-level talks to "begin discussions, rethink, and explore both geopolitical and economic cooperation that could arise from ending the conflict in Ukraine," and continuing engagement from both sides.
Rubio stated that any potential peace must be acceptable to all parties, including Europe. The head of U.S. diplomacy also rejected suggestions that the Old Continent was sidelined in the negotiations and stressed that their outcome must be acceptable to Ukraine, Russia, and the European Union alike.
On the Russian side, Lavrov assessed that the talks "were not unsuccessful" and that both sides expressed readiness "to resume full collaboration" and "to remove barriers to economic cooperation." However, he stated that Russia will not agree to any NATO military presence in Ukraine.
Lavrov reiterated that for Russia, Ukraine's NATO membership is unacceptable, because, as he said, it poses a "direct threat to Russia's interests and sovereignty." After the meeting, Ushakov and Waltz noted that it is unlikely for a meeting between Putin and Trump to take place as early as next week. Trump had previously mentioned on February 12 that he expects a meeting with Putin, possibly in Saudi Arabia, but did not specify when it would take place.
Talks without Ukraine and the EU
Neither Ukraine nor the EU received invitations to Tuesday's talks, causing outrage in Kyiv and several European capitals. Ukrainian President Volodymyr Zelensky stated that he would not recognize the outcome of the talks in Riyadh, as any negotiations concerning Ukraine are ineffective without Ukraine's involvement. Following the talks, he added that Kyiv will never accept Russian ultimatums.
