President Trump announced Friday that Russia will begin supplying diesel fuel to the United States and the global market, following a conversation with Russian President Vladimir Putin.
The announcement marks a notable shift. Russia had banned diesel exports as its refineries came under Ukrainian strikes, and late last month, Moscow extended that ban through the end of October.
But on Friday, Trump said Russia would “immediately” supply 300,000 tons of diesel to the U.S. and global marketplace.
“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 in a post on Truth Social.
The president said even more fuel could follow, depending on the state of Russia’s refineries.
“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,” he added.
Under the arrangement Trump described, the deliveries would come in stages: more than 300,000 tons right away, another 500,000 tons in November and 1 million tons immediately after that. A further 3 million tons would follow within a short period, based on the condition of Russia’s diesel refineries.
The Treasury Department also announced Friday that it would lift sanctions on Russian diesel to allow the fuel to enter the global marketplace.
The move comes just a few weeks after Trump signed a bill into law authorizing further sanctions on Russia.
The announcements land as high diesel prices continue to weigh on Americans. Elevated prices have contributed to inflation and have created particular problems for farmers, and the issue has become a significant one heading into the midterm elections.
Several factors have driven prices higher. Ukraine’s growing strikes on Russian refineries have played a major role, as have broader increases in oil prices tied to the war in Iran.
Russia’s export ban, put in place as its refineries became targets, had kept its diesel off the market. With Trump’s announcement and the Treasury Department’s decision to lift sanctions on Russian diesel, that fuel is now set to flow to buyers in the U.S. and around the world.
For farmers and other Americans who have been hit hard by high diesel costs, the president’s announcement signals the administration is moving to bring more supply onto the market as the midterms approach.
The deal follows what Trump called a “highly successful discussion” with Putin, with the first shipments of more than 300,000 tons slated to begin immediately.
