The Trump administration is reportedly considering lifting sanctions on certain Russian energy projects in Europe, including the Nord Stream 2 gas pipeline, Politico reported Wednesday, citing five sources familiar with the discussions.

According to these sources, the proposal is being pushed primarily by U.S. presidential envoy Steve Witkoff, while both the State Department and the Interior Department oppose it.

Politico notes that restarting Nord Stream 2 — which would allow Russia to resume gas deliveries to Europe — could significantly boost revenue for the Russian budget. However, it remains unclear whether E.U. countries, which have been trying to reduce their dependence on Russian energy, would be willing to resume imports. In any case, the outlet writes, lifting the sanctions would be a diplomatic win for Russia.

One source said that allowing Russia to return to being Europe’s biggest energy supplier would be “a bloodbath for American [oil and gas] producers.”

Witkoff and U.S. Secretary of State Marco Rubio have denied that any such discussions are taking place. In a joint statement released by the White House, they said:

This is false. Neither of us have had any conversations about lifting sanctions on Russia as part of a peace deal with Ukraine,” their statement said. “This is just totally fictitious and irresponsible reporting from Politico, a fifth-rate publication. If they have an ounce of journalistic integrity they will fully retract this piece of fiction.

Trump tries to close a deal

• Trump's 'final offer' Washington wants Ukraine to sign a minerals deal, give up NATO membership, and accept Russian occupation