Washington: The US Treasury Department has announced a temporary easing of certain financial sanctions against Russia, a measure set to facilitate preparations for an upcoming summit between US President Donald Trump and Russian President Vladimir Putin. The talks are scheduled for Friday in Alaska.

According to Philippines News Agency, the US Treasury’s Office of Foreign Assets Control (OFAC) issued a statement clarifying that the exemption pertains to transactions deemed ‘ordinarily incident and necessary’ for attending or supporting meetings between the US and Russian governments in Alaska. This exemption, however, does not permit the unblocking or release of any assets currently frozen under existing sanctions against Russia.

The forthcoming meeting between Trump and Putin will be the first direct engagement between a sitting US president and Russian leader since 2021, when Putin met then-US President Joe Biden in Geneva, Switzerland. Notably, this summit will also be the first instance of a Russian leader visiting Alaska since the Russian Empire sold the territory to the US in 1867.