MercoPress. South Atlantic News Agency

Trump says Russia will supply millions of tonnes of diesel as US eases sanctions on Moscow

”Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” he wrote

US President Donald Trump announced on Friday a deal with Russian President Vladimir Putin for Russia to supply some 4.8 million tonnes of diesel to US and global markets, aiming to curb rising fuel prices. To make it possible, the Treasury Department temporarily suspended sanctions on Russian diesel until April 2027.

“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 tons of diesel fuel to the American and global marketplace, another 500,000 tons during the month of November, and 1,000,000 tons immediately thereafter,” Trump wrote on Truth Social. He added that, depending on the condition of its refineries, Russia would deliver a further three million tonnes “within a short period of time”.

“Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” he wrote, saying that lowering prices for farmers, ranchers and truckers was his “greatest priority”. Putin’s investment envoy, Kirill Dmitriev, said energy cooperation between the two countries “will continue and benefit global markets”.

Ukrainian President Volodymyr Zelensky called the deal “a weak decision” and “dishonest”, made while a Ukrainian delegation is negotiating a peace agreement in Florida with Trump’s envoys, Steve Witkoff and Jared Kushner. “I believe our team is simply being used as a smokescreen,” he said. “This means millions, billions. All of it goes to the war against Ukraine.”

Russia, one of the world’s main diesel suppliers, had suspended exports of the fuel because of damage caused by Ukrainian drones to its refineries. The suspension was due to expire at the end of October.

US diesel prices hit a record on September 22 and stood at US$6.27 a gallon on Friday; futures fell 4.3% after the announcement. The increase has been exacerbated by the war with Iran, which has disrupted crude flows and refining capacity. A week ago, the G7 agreed to release 100 million barrels from strategic reserves. The cost of living is one of the central issues in the November 3 midterm elections.