In preparations for Kremlin strongman Vladimir Putin’s visit to the US state of Alaska on Friday for a summit with President Donald Trump, aimed at stopping Moscow’s invasion of Ukraine, the US Treasury Department has briefly relaxed sanctions on Russia in terms of commercial and aviation restrictions.
The US Treasury Secretary also said on Wednesday that Trump will offer Putin an amuse-bouche in the form of a proposal to share in the rare earth minerals deal the US inked with Ukraine.
On Wednesday, the US Treasury issued a “general license” that authorizes American businesses and investors to conduct transactions related to the upcoming meeting – unspecified business deals that certainly include permission for Russian aircraft to land in the US but theoretically could also include anything from catering services to refueling – during the one-day visit of the two leaders to Anchorage, Alaska.
Despite the nice mise en place for Putin, there reportedly will be no overnight stay for either leader, as US military bases are not known for the types of accommodations or restaurants that could successfully entertain Russian multi-billionaires or even an American real-estate-mogul-turned-president.
Anchorage is 7,442 kilometers (4,624 miles) from Moscow as Putin’s airplane (an Ilyushin Il-96-300PU) flies, and about 6,900 kilometers (4,300 miles) from Washington, DC aboard Air Force One. Pundits, therefore, forecast that this could be a short meeting.
There was a slew of logistical and security concerns about hosting a Russian delegation at the highly guarded US military base, Joint Base Elmendorf-Richardson in Anchorage, built in 1940 and hosting the 11th Air Force, 11th Airborne Division, and the Alaskan North American Aerospace Defense (NORAD) Command Region, which safeguards not only the US but also Canadian airspace. Major operating units on site include the 381st Intelligence Squadron and 3rd Wing of the US Air Force, and the 176th Wing, the largest unit of the Alaska Air National Guard.
A shiny object dangled in front of the Russian oligarchs
But at least the International Criminal Court’s warrants for Putin’s arrest won’t be an issue, as the US is not a signatory to that body’s Rome Statute, which requires adhering members to handcuff those like Putin wanted for war crimes and turn the accused over to The Hague.
Instead, Trump’s hospitality challenge – in a meeting described as a “feeling-out process” and “a listening exercise” ahead of a future trilateral meeting including Ukrainian President Volodymyr Zelensky – is to tempt Putin with a morsel that could lead to a long-promised ceasefire between the two warring countries – both the invader and the non-volunteer victim – high on the American president’s list of campaign promises.
That shiny object will be dangled in front of the Russian oligarchs on Friday in the form of an opportunity to share in Trump’s deal with Zelensky about jointly mining Ukraine’s natural resources, including highly coveted rare earth minerals needed by technology companies and other industries.
In addition to lifting, temporarily, some of the American sanctions on Russian aviation, White House advisors to Trump ahead of the summit included the possibility of opening up Alaska’s natural resources to Moscow, and giving Putin access to rare earth minerals in currently occupied Ukrainian territories.
US Treasury Secretary Scott Bessent is reportedly the driving force behind many such propositions.
“[Trump] will make it clear to President Putin that all options are on the table,” Bessent told Sky News on Wednesday.
While relaxed sanctions and a tempting gift to Putin to share in the spoils of natural resources represent the carrots in Anchorage, Trump’s vague threats of the stick come in the form of possible additional sanctions, should Moscow decide not to play ball with Washington – a stick Trump dangled over a fortnight before his shortened deadline was passed last Friday.
Bessent added that Europe “needs to join us in these sanctions” to “help create more leverage.”
In an interview with Bloomberg News on Wednesday, Bessent was even more poignant.
“It’s put up or shut up time,” Bessent told Bloomberg. “We put secondary tariffs on the Indians for buying Russian oil. And I could see if things don’t go well, then sanctions or secondary tariffs could go up.”