Trump-Putin Deal Promises Relief on Diesel Price With Quick Release of 300,000 Tons of Fuel

President Trump says he has reached an agreement with President Vladimir Putin to immediately supply more than 300,000 tons of diesel fuel to the American and global marketplace in an effort to lower fuel prices.Friday’s announcement marks a sudden policy reversal for Mr. Trump, who last month signed a stronger sanctions law targeting the Russia energy industry.High fuel prices have fed into voter discontent ahead of the midterm elections. Record high diesel prices have also been straining the farming and trucking industries, key voting blocs for the Republican party.“Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority,” Mr. Trump said in a Friday Truth Social post.The Treasury Department said Mr. Trump has directed the Office of Foreign Assets Control to immediately issue a temporary general license to allow the supply of Russian diesel to the global market. Russian fuel had been sanctioned since the start of the Ukraine war.“Russia-US cooperation on diesel and energy will benefit the world,” a Russian presidential envoy, Kirill Dmitriev, said on X.Mr. Trump said Russia would provide another 500,000 tons of diesel fuel during the month of November, and a million tons “immediately thereafter.” Russia will provide another 3 million tons of diesel fuel a short time after that, based on the condition of its refineries.The Russian diesel deal is small in relation to overall fuel needs. America alone uses approximately 3.6 to 3.9 million barrels of diesel fuel daily. The initially promised 300,000 tons of diesel is equivalent to about 2.2 million barrels.Oil market researcher Rory Johnson was not impressed by the deal. “Russia usually exports nearly ten times that volume when its refinery fleet isn’t getting bombed by Ukrainian drones,” Mr. Johnson said in an X post.Economist Jeremy Siegel said that Mr. Trump had “cut a deal with the devil” and that it is not a permanent solution to the world’s fuel problems. “Its sort of a short term band-aid,” Mr. Siegel said on CNBC.Ukraine has been targeting Russian energy infrastructure for months. President Volodymyr Zelensky has snubbed Mr. Trump’s requests to stop the attacks. The Ministry of Defense says its intelligence analysts and members of Ukraine’s general staff have determined that long-range strikes have knocked out more than 51 percent of Russia’s refining capacity.Kyiv has said the facilities are legitimate military targets in response to repeated Russian attacks on Ukraine’s power grid. Mr. Trump’s deal with Moscow could create additional pressure for Mr. Zelensky to pause the attacks.The Ukrainian president met earlier in the day with a bipartisan group of American congressmen to discuss American help to defend against Russian attacks, including licensing Patriot missile production to produce ballistic missile interceptors.“Any easing of sanctions against Russia without a clear and lasting de-escalation agreement with Russia is an obvious weakness,” Mr. Zelensky said in an X post. “It plays into Russia’s hands — allowing it to kill more, wage war for longer, have even less respect for America, and inflict even greater losses and damage on the world.”Mr. Zelensky reiterated his position that Ukraine is ready to stop attacks on Russian oil facilities when its own energy infrastructure is no longer targeted.

Trump-Putin Deal Promises Relief on Diesel Price With Quick Release of 300,000 Tons of Fuel

Trump-Putin Deal Promises Relief on Diesel Price With Quick Release of 300,000 Tons of Fuel

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