Trump Eyes Oil Deals With Putin To End Ukraine War: Report

The Trump administration is exploring major oil and business deals with Russia as it looks for a way to end the war in Ukraine, according to a report by the Financial Times.

The discussions between Washington and Moscow include the possible return of American companies to Russia's oil industry once the conflict ends. The proposals also cover the resumption of Russian oil sales to Europe and fresh cooperation in other industries.

The reported plans mark another attempt by US President Donald Trump to persuade Russian President Vladimir Putin to make concessions in peace negotiations, now that the war has entered its fifth year.

But the prospect of renewed economic ties with Moscow is likely to deepen tensions with Ukraine, whose relationship with the White House has deteriorated over Kyiv's continued attacks on Russian energy infrastructure.

Sakhalin Oil Project, Druzhba Pipeline On The Table

According to people familiar with the discussions cited by the Financial Times, one proposal involves restarting the joint US-Russian oil venture off the coast of Sakhalin in Russia's Far East.

Another would allow Russian oil to flow to Europe again through the Druzhba pipeline.

Steve Witkoff, Trump's special envoy, is said to have discussed potential business agreements during his meeting with Putin in early September. Witkoff, a former real estate developer, has faced criticism from both Democrats and Republicans, who have accused him of taking too accommodating a position towards the Russian leader.

The White House is hoping for progress at planned peace talks involving Russian, Ukrainian and American officials in Abu Dhabi next month. The discussions would be the first such meeting since February, the report said.

US officials have maintained that any business agreements would form part of a broader peace framework and would take effect only after the war ends.

However, much will depend on whether Putin is willing to agree to an end to the conflict and whether American companies are prepared to return to Russia despite the risks.

ExxonMobil's Return Remains Uncertain

ExxonMobil, the only American company involved in the Sakhalin project, said last year that it had no plans to resume operations. It remains unclear whether the company has since reconsidered its position.

The oil industry is not the only area where Washington and Moscow are reportedly exploring cooperation.

Other proposals include American companies working with Russia on titanium production. The metal is widely used in aircraft manufacturing. The discussions have also included the possibility of US airlines regaining access to Russian airspace, potentially helping them cut fuel costs on some routes.

Since Trump returned to the White House, Moscow has sought closer economic ties with Washington after years of isolation following Russia's full-scale invasion of Ukraine in 2022.

Earlier this month, Trump agreed to a deal to import thousands of barrels of Russian diesel. The move angered Kyiv and raised concerns among European allies and lawmakers in Washington.

His administration has also put a new package of sanctions targeting Russian energy exports on hold and stepped up pressure on Ukraine to stop attacking Russian oil refineries.

Zelensky's Ties With Trump Under Further Strain

The reported business discussions could add to the growing friction between Trump and Ukrainian President Volodymyr Zelensky.

Kyiv has refused to stop its long-range drone attacks on Russian targets. The dispute has unfolded amid reported interruptions to US intelligence-sharing with Ukraine and concerns over its access to Starlink, further straining relations between the two leaders.

For Kyiv, the prospect of Washington pursuing lucrative business opportunities with Moscow while pressing Ukraine to curb its military operations risks complicating an already difficult peace process.

The developments come as some European leaders are also stepping up direct engagement with Putin.

Finland, Norway Leaders Call Putin

Finnish President Alexander Stubb and Norwegian Prime Minister Jonas Gahr Store spoke directly with Putin on Tuesday, urging him to end the war.

The 90-minute call marked a departure from the practice adopted by many Western European leaders of avoiding direct contact with the Kremlin since the invasion of Ukraine.

Both leaders said they had "stressed the importance of de-escalation" and expressed strong support for Ukraine.

The Kremlin offered a different account of the conversation, saying Putin blamed the "confrontational" policies of Kyiv's allies for prolonging the conflict.