Trump says Russia to supply diesel to US and global markets

US President Donald Trump said on Friday that Russia had agreed to supply ​diesel to global markets in an effort to lower fuel prices, and his administration temporarily lifted US sanctions on Russian fuel that were designed to deprive Moscow of revenues for its ‌war on Ukraine, Reuters reported.

Prices for diesel, used for agriculture, heating homes and trucking, are near a record and risk for Trump's fellow Republicans ahead of the November 3 congressional elections that will determine whether they maintain thin control of Congress. Diesel prices fell after the announcement, but analysts said the deal may not be enough to keep them down, according to Reuters.

Trump said on social media he had a "highly successful" discussion with President Vladimir Putin in which they agreed that Russia will immediately supply more than 300,000 metric tons of diesel to US and ​global markets, equal to about 2.25 million barrels of fuel. The US exports about 1.5 million barrels of diesel per day.

“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. Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel. 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! Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority. This is a very big and important announcement. Additionally, it must be understood, that Iran will not have a Nuclear Weapon,” Trump said on Truth Social.

After the call, an envoy for Putin, Kirill Dmitriev, praised cooperation between Russia and ​the US in a post on X.

Dmitriev asked US officials during his visit to Washington last month for licenses to export diesel to the US market to ⁠be granted to all Russian major oil firms, Reuters reported, citing sources familiar with the situation.

Ukrainian President Volodymyr Zelenskiy criticized the deal, announced while a Ukrainian delegation was in the US to discuss how to seek a resolution of the war, as a "weak ​decision on the part of strong partners."

"Gifts to Putin will not bring peace or any benefit to the civilized world. Russia will 'repay' the diesel with further terror and perfidy," he said on X.

The deal was also criticized by US lawmakers including Trump's fellow Republican, Representative Don Bacon, who said it is time to apply more sanctions that Congress passed recently, not lift the measures.

The US Treasury Department issued a license allowing importation of Russian diesel until April 7.

Trump said Russia would supply another ​500,000 tons in November and a further 1 million tons "immediately thereafter." Even more would follow, Trump said, "based on the condition of their diesel refineries," which have been damaged by Ukrainian attacks.

Diesel prices, which are often a big driver of inflation, are up 70% since the US and Israel launched the war with Iran on February 28. The wars in Iran and Ukraine have triggered a severe global fuel supply crunch, pushing average US diesel prices ​to $6.28 a gallon on Thursday, according to the ​AAA motorist group.