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U.S. Treasury Secretary Scott Bessent told Russian Finance Minister Anton Siluanov on Monday that no economic relief or agreements on other issues were possible until Russia's war in Ukraine ended, according to the report.
Both officials met on the sidelines of the G20 Finance Ministers and Central Bank Governors Meeting in Asheville, North Carolina. Siluanov's attendance marked his first in-person appearance at a G20 meeting since Russia invaded Ukraine.
The talks focused on President Donald Trump's peace plan for Ukraine, and when Siluanov tried to raise areas of mutual interest, Bessent interrupted him and said, "nothing is possible until the war is over," a U.S. official told Reuters.
Russia's Finance Ministry provided a broader account of the meeting, saying the two sides discussed financial cooperation between Russia and the United States as well as cooperation within the G20 framework.
NBC News reported that the officials also discussed economic growth, although it was unclear what specific issues were on the agenda.
The meeting came as European officials worked on further sanctions against Russia, and Siluanov's presence at the gathering irritated some European officials.
The U.S. has imposed extensive sanctions on Russia over the war in Ukraine, including sanctions on Russia's major oil companies in October 2025.
After the U.S.-Israeli war against Iran cut off energy supplies through the Strait of Hormuz, Bessent issued licenses allowing the sale of seaborne Russian oil stored in tankers to ease supply pressures, sending some funds to Moscow.
The move provided limited relief to the disrupted energy market while leaving broader U.S. sanctions on Russia in place.
Bessent was scheduled to hold at least 11 bilateral meetings that week in Asheville, with representatives from China, Japan, South Korea and Canada also on his meeting list.
The talks came as Washington faced trade disputes with several of those countries alongside the broader economic and geopolitical issues confronting the G20.
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