President Donald Trump said on Friday that he has made a deal with Russian President Vladimir Putin to put millions of tons of Russian diesel on the market. The aim is to bring down fuel prices before the 3 November midterm elections. It reverses years of US pressure on Moscow over the war in Ukraine.
The announcement came in a post on Truth Social, according to CNBC. The deal followed a phone call between the two presidents.
What was announced
By Trump’s account, Russia will supply more than 300,000 tons immediately. Another 500,000 tons would follow in November, then 1 million tons shortly after that. Moscow would then deliver a further 3 million tons, depending on the condition of its refineries. Together, that is more than 4 million tons.
The Treasury Department backed the plan with a general license issued Friday.
It temporarily waives sanctions on Russian diesel through April 2027.
Fox Business reported that the diesel is meant to help American farmers, ranchers and truckers, with prices above $6 a gallon.
Why diesel is so expensive
Diesel prices have jumped around the world. According to CNBC, Ukraine has been hitting Russian refineries hard, and Moscow responded by banning diesel exports. Refineries damaged by wars in Eastern Europe and the Middle East have left the president with few ways to bring prices down.
Earlier this week Trump signed an executive order letting truckers run tax-exempt off-road diesel on highways without federal penalties. CNBC noted that the order only defers the tax, which has left some confusion over whether truckers will have to pay later.
Questions left open
Few details have come out. The Associated Press reported that the White House did not immediately say who would pay for the Russian fuel or when it would arrive. It also did not say whether the November shipments would land before Election Day.
The Washington Post described the volumes as small compared with US demand. It said the deal could ease prices somewhat. Even so, the Post said it effectively lines Washington up with Moscow and against Ukraine’s campaign to bomb Russian refineries.
Because the fuel is described as going to the global market, not only to the United States, any price effect would likely be spread out. The sources do not say how much relief US drivers or businesses should expect.
Political fallout
Ukrainian President Volodymyr Zelenskyy condemned the deal right away. He warned that easing sanctions without a Russian commitment to de-escalate would only prolong the war. In a longer post, AP reported, he said Russia would repay the arrangement with further “terror and perfidy” and called it an investment in the war.
The timing is awkward. AP noted that Trump signed a broad Russia sanctions law last month aimed at squeezing Moscow’s energy revenue. That law directs the administration to target the biggest importers of Russian oil and gas. AP said the diesel deal casts doubt on whether the White House will impose such sanctions this month.
The announcement also came while envoy Steve Witkoff and Jared Kushner were meeting Ukrainian officials in Miami to discuss a proposal to end the war, AP reported.
Why it matters at home
Diesel moves the economy. It powers freight trucks, farm equipment and delivery fleets, so higher prices tend to feed into the cost of groceries and goods. That is why fuel costs are a political problem for the White House as the midterms approach.
Whether this deal changes that depends on facts that have not been made public: how quickly the fuel flows, who buys it, and whether Russia’s damaged refineries can keep up. For now, the commitments rest on Trump’s description, and neither the White House nor Moscow has offered much detail.