The Alaska gas project reported on Oct. 23 is not the first energy proposal to surface around the Ukraine negotiations, and it may not be the last. Since early 2025, outlets from Reuters to the New York Times have described a rolling list of Russia energy deals peace talks have put on the table, from Arctic equipment to oil assets to diesel. This page lists each, who reported it, and where it stood on Oct. 26.
Where it stands: Only one item on the list has become official U.S. policy: Treasury’s diesel license, which runs through April 2027, according to CNBC. The Lukoil asset sale is under negotiation and needs approval from both governments. The rest, including the Alaska gas concept, remain proposals described by anonymous sources.
The newest entry rests on allegations by Polar LNG’s former chief executive, Joel Riddle, that Novatek was financing the venture. The company calls Riddle a “disgruntled former employee” and says development is “in full compliance with applicable US laws”; Novatek denies that its role depends on sanctions relief, and Tech Wave says Novatek has no ownership in it. The Times reported “there is no indication” that envoys Steve Witkoff and Jared Kushner knew of Polar LNG’s ties to Novatek. Business Standard noted that “no US authority has publicly established that the alleged financing constituted a sanctions violation.”
The Russia energy deals peace talks menu
| Proposal | Reported by | Reported status |
|---|---|---|
| Arctic energy cooperation, general | Politico via High North News, Feb. 2025 | Talk only |
| Revive Russian gas flows to Europe | Reuters, Aug. 2025 | Stalled by EU phase-out plans |
| Exxon return to Sakhalin-1 | Reuters, Aug. 2025 | Putin decree allows it, on conditions |
| U.S. equipment for Arctic LNG 2 | Reuters, Aug. 2025 | Discussed; no license reported |
| U.S. purchase of nuclear icebreakers | Reuters, Aug. 2025 | Idea only |
| Siberia-Alaska tunnel | Al Jazeera, Oct. 2025 | Dmitriev pitch; Trump called it “interesting” |
| Lukoil foreign assets sale | NYT, Oct. 2026 | Needs U.S. and Kremlin approval |
| Russian diesel imports | Treasury license, Oct. 2026 | In effect through April 2027 |
| Alaska LNG with Novatek, Arctic LNG 2 relief | FT and NYT, Oct. 2026 | “Broadly and briefly” mentioned, per White House official |
What links most of these, according to the five people Reuters interviewed in 2025, is purpose: the deals “were put forward as incentives to encourage the Kremlin to agree to peace in Ukraine and for Washington to ease sanctions on Russia.” The Times described the Alaska idea in similar terms, as “one of a series of energy deals White House officials believe could help smooth relations with Moscow.”
The Arctic and LNG items
The Arctic has been on the agenda since early 2025. Coming out of the Saudi-hosted round in February 2025, Kirill Dmitriev, Putin’s investment envoy, told Politico: “It was more a general discussion — maybe joint projects in the Arctic. We specifically discussed the Arctic.”
By August 2025, Reuters sources described specifics. Four of them said officials “raised the prospect of Russia purchasing U.S. equipment for its LNG projects, such as Arctic LNG 2, which is under western sanctions.” Reuters also reported the idea of the U.S. buying Russian nuclear-powered icebreakers. Novatek controls Arctic LNG 2 as majority owner, according to Reuters, and the plant is one of the projects the Graham Act names for sanctions review: “The Arctic 1, 2, and 3 Liquefied Natural Gas Projects or a successor project.”
In October 2025, Dmitriev pitched a “railroad and cargo link” between Siberia and Alaska that he said would “unlock joint resource exploration,” Al Jazeera reported. Trump called the idea “interesting”; Zelenskyy, who was at that White House meeting, said he was “not happy with this idea.”
The 2026 Alaska proposal is the newest Arctic item. Per the FT, people familiar with the talks described a proposal in which Novatek would help build an Alaska LNG plant “in exchange for sanctions relief for Arctic LNG 2.” A White House official told the FT it had been “broadly and briefly mentioned.” Polar LNG says an application went to OFAC, Treasury’s sanctions arm, “for a license to purchase an unfinished gravity-based structure” from Novatek. The reported swap is examined in our Arctic LNG 2 relief explainer.
Oil: Sakhalin-1, Lukoil and diesel
Exxon Mobil left Russia in 2022, “taking a $4.6 billion impairment charge,” Reuters reported, and lost its stake in Sakhalin-1. Three Reuters sources said U.S. and Russian officials discussed a possible return. On the day of the August 2025 Anchorage summit, Putin signed a decree that could let foreign investors regain shares, but “it is conditional on the foreign shareholders taking action to support the lifting of Western sanctions on Russia.” Exxon declined to comment, and no return had been reported in coverage reviewed through Oct. 26.
The Lukoil item is newer. The Times reported that Putin brought up the sale of Lukoil’s international portfolio at the Sept. 5 Kremlin meeting with Witkoff and Kushner; per Ukrainska Pravda’s summary, the deal “requires approval from the US government and the Kremlin.” The paper also said “there is no evidence that Kushner or Witkoff stand to profit personally from the agreement.” Buyers, terms and status are covered in our Lukoil deal report.
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Diesel is the one deal already in force. Treasury’s general license, issued in early October, temporarily eased sanctions on Russian diesel exports through April 2027, CNBC reported. Energy Secretary Chris Wright has called the arrangement a “carrot” for Moscow, per Newsweek. How the license works is explained in our diesel license explainer.
Gas for Europe
Before the bilateral focus, Reuters reported in August 2025 that “earlier this year the same officials explored ways for the U.S. to revive Russian gas flows to Europe,” plans that were “stalled by Brussels,” which had proposed phasing out Russian gas imports by 2027. Reuters said talks then shifted toward bilateral U.S.-Russia deals.
What the administration says, and what still applies
The White House has generally declined to discuss specifics. Asked by Reuters in 2025, an official said “it is not in the national interest to further negotiate these issues publicly.” On the Alaska item, the only on-record characterization is the “broadly and briefly” line.
Most of these proposals would still run into existing sanctions. The Oct. 16 order waiving the Graham Act says “nothing in this order affects any sanctions or other measures” imposed under earlier executive orders, so deals involving designated Russian companies would generally still need Treasury authorization. Dmitriev, for his part, wrote after the waiver that “the U.S.-Russia economic dialogue and peacemaking efforts will continue.” How Trump himself describes post-war commerce is tracked in our record of his remarks.
Frequently Asked Questions
What energy deals have been discussed in U.S.-Russia peace talks?
Reported items include U.S. equipment for Arctic LNG 2, an Exxon return to Sakhalin-1, U.S. purchases of Russian icebreakers, a Lukoil foreign-asset sale, Russian diesel imports, and an Alaska LNG plan involving Novatek. Most were described by anonymous sources.
Which Russia energy deal has actually happened?
The diesel general license is the only one in effect. CNBC reported it runs through April 2027. The Lukoil sale still needs U.S. and Kremlin approval, and the others remain proposals.
Is Exxon going back to Russia?
Reuters reported in 2025 that officials discussed an Exxon return to Sakhalin-1 and that Putin signed a decree allowing foreign investors to regain shares on conditions. Exxon declined to comment, and no return had been reported as of Oct. 26.
Did Witkoff and Kushner know about Polar LNG and Novatek?
Not according to the Times, which said it found no sign either envoy knew of the venture or its Russian links. A U.S. official, not named, told the paper the subject surfaced only in general terms.
Sources
- US and Russian Officials Discussed Energy Deals Alongside Latest Ukraine Peace Talks — gCaptain (Reuters), August 26, 2025
- Russia and US Talks Joint Arctic Energy Projects After Saudi Meeting — High North News, February 2025
- Kremlin envoy proposes ‘Putin-Trump tunnel’ to link Russia, US — Al Jazeera, October 18, 2025
- US and Russia reportedly negotiate multibillion-dollar deal on Lukoil assets (citing the NYT) — Ukrainska Pravda, October 3, 2026
- Trump waives Russia-linked sanctions, citing national interest — CNBC, October 17, 2026
- Former CEO: Russian Firm Backed Alaska Gas Venture — Newsmax (via Yahoo News), October 24, 2026
- Russia secretly backed Alaska LNG shipping scheme (quoting the New York Times) — Reporting From Alaska (Dermot Cole), October 25, 2026
- Top executives quit $25 bn US gas project over alleged Russian control — Business Standard, October 25, 2026
- Alaska LNG export terminal got funding from Russia’s sanctioned Novatek before US nod—FT report — ThePrint (Bloomberg wire), October 24, 2026
- H.R. 5334 (Enrolled Bill): Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 — U.S. Government Publishing Office (GovInfo), September 2026
- Implementing the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 (Executive Order 14436) — The White House, October 16, 2026
- List of Republicans breaking with Trump over Russia sanctions waiver — Newsweek, October 2026
This article is news reporting and analysis based on the public sources listed above, as they stood on the dates shown. Where officials, lawmakers or analysts disagree, including on whether an action is lawful, their positions are attributed to them; Donald Trump Class Action is not a court and nothing here is legal advice. Facts in a developing story can change.