WASHINGTON — US President Donald Trump announced Friday that Russia had agreed to supply millions of tons of diesel fuel to American and global markets following talks with Russian President Vladimir Putin.
Trump said the agreement would see Russia immediately supply more than 300,000 tons of diesel, followed by another 500,000 tons in November and 1 million tons shortly afterward.
An additional 3 million tons could be delivered within a short period, depending on the condition of Russian refineries, bringing the potential total to more than 4.8 million tons.
“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia,” Trump wrote on Truth Social, announcing the agreement.
He predicted that the additional supplies would rapidly reduce diesel prices in the United States and worldwide.
“Diesel Prices for Americans and, indeed, the World, will be coming down, in record numbers, and fast!” Trump said.
The president emphasized the importance of lower fuel costs for American farmers, ranchers and truckers, as energy prices remain a major economic concern ahead of the November 3 US midterm congressional elections.
Speaking to reporters later, Trump said he was “very happy” with the agreement, adding that oil prices were “already dropping like a rock.”
US Treasury authorizes Russian diesel sales
Shortly after Trump’s announcement, the US Treasury Department said its Office of Foreign Assets Control (OFAC) was issuing a temporary general license allowing Russian diesel supplies to reach global markets.
The Treasury subsequently authorized transactions involving the sale, delivery, offloading and importation of Russian-origin diesel fuel through April 7, 2027.
The move marks a temporary easing of US restrictions on Russian energy trade as Washington seeks to increase fuel supplies and ease pressure on global markets.
Putin says deal will benefit global economy
Putin confirmed Russia’s willingness to supply oil and petroleum products to US and international markets, saying the move would support the global economy.
“In discussing the state of the global energy sector, the Russian side reaffirmed its readiness to supply oil and petroleum products to the US and global markets. I am confident that this will have a positive impact on the global economy as a whole,” Putin said in a statement released by the Kremlin.
The Kremlin said the two presidents discussed global energy markets, prospects for resolving the war in Ukraine, developments involving Iran and bilateral relations.
The conversation also devoted significant attention to diplomatic efforts surrounding the Ukraine conflict.
Putin said the two leaders agreed to maintain direct contact and continue cooperation between their presidential administrations, intelligence agencies and other government institutions.
The announcement comes amid prolonged disruption to global energy markets following the outbreak of war involving the United States, Israel and Iran on February 28.
Iran responded to the US-Israeli military campaign with missile and drone attacks across the region, while commercial oil shipments through the Strait of Hormuz were severely disrupted.
The conflict, now in its eighth month, has contributed to higher global energy prices and intensified concerns over fuel supplies.
Washington and Tehran signed a framework agreement in June following mediation by Pakistan and Qatar, aimed at halting hostilities and opening the way for negotiations.
However, implementation has stalled amid disagreements over security arrangements and freedom of navigation through the Strait of Hormuz.
Source: Saudi Gazette