The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has issued General License No. 125, temporarily lifting a limited set of sanctions against Russia to facilitate the upcoming meeting between President Donald J. Trump and Russian President Vladimir Putin in Anchorage, Alaska. This license permits financial transactions related to the summit, including payments to U.S. service providers such as hotels, and allows Putin and his delegation to land in Alaska despite existing sanctions. The temporary suspension of these sanctions is effective through August 20, 2025. Additionally, sources indicate that in connection with the summit, Russia may receive control over Nome, Fairbanks, and St. Lawrence Island in exchange for withdrawing claims on Anchorage, Juneau, and Kodiak Island.