diff --git a/Lib/test/test_fstring.py b/Lib/test/test_fstring.py
index b47e906ce351c74..2acd49f3584513a 100644
--- a/Lib/test/test_fstring.py
+++ b/Lib/test/test_fstring.py
@@ -1664,6 +1664,11 @@ def __repr__(self):
         self.assertEqual(f'{" # nooo "=}', '" # nooo "=\' # nooo \'')
         self.assertEqual(f'{" \" # nooo \" "=}', '" \\" # nooo \\" "=\' " # nooo " \'')
 
+        # A real comment after a string that ends with an escaped quote must
+        # still be stripped (gh-154711).
+        self.assertEqual(f"{'\'' = # comment
+}", "'\\'' = \n" + repr("'"))
+
         self.assertEqual(f'{ # some comment goes here
   """hello"""=}',  ' \n  """hello"""=\'hello\'')
         self.assertEqual(f'{"""# this is not a comment
diff --git a/Misc/NEWS.d/next/Core_and_Builtins/2026-07-30-14-40-00.gh-issue-154711.nUxYXc.rst b/Misc/NEWS.d/next/Core_and_Builtins/2026-07-30-14-40-00.gh-issue-154711.nUxYXc.rst
new file mode 100644
index 000000000000000..58ad001d3befb78
--- /dev/null
+++ b/Misc/NEWS.d/next/Core_and_Builtins/2026-07-30-14-40-00.gh-issue-154711.nUxYXc.rst
@@ -0,0 +1,3 @@
+Fix a bug where a comment placed after a string that ends with an escaped
+quote could leak into the output of a debug f-string. Now the comment is
+stripped as expected.
diff --git a/Parser/lexer/lexer.c b/Parser/lexer/lexer.c
index 38d3742f6e73d0f..110f312498bdd57 100644
--- a/Parser/lexer/lexer.c
+++ b/Parser/lexer/lexer.c
@@ -162,6 +162,19 @@ set_fstring_expr(struct tok_state* tok, struct token *token, char c) {
         while (i < expression_size) {
             char ch = expression[i];
 
+            // Copy escaped characters as-is. This keeps an escaped quote from
+            // flipping the in_string state, which would otherwise stop a real
+            // comment from being detected (see the detection loop above).
+            if (ch == '\\') {
+                result[j++] = ch;
+                i++;
+                if (i < expression_size) {
+                    result[j++] = expression[i];
+                    i++;
+                }
+                continue;
+            }
+
             // Handle string quotes
             if (ch == '"' || ch == '\'') {
                 // See comment above to understand this part