United States President Donald Trump has announced an agreement with Russian President Vladimir Putin for Russia to supply millions of tons of diesel fuel to the US and global markets.
Trump disclosed the agreement in a post on his Truth Social platform on Friday, saying Russia would immediately release more than 300,000 tons of diesel, followed by additional shipments in the coming months.
He said Russia would supply another 500,000 tons in November, followed by one million tons shortly afterwards.
Trump added that Russia would deliver a further three million tons within a short period, depending on the condition of its diesel refineries.
The US president said the additional supplies would help reduce fuel prices, particularly for American farmers, ranchers and truckers.
“Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” he wrote.
Trump also linked the proposed supplies to the ongoing disruption around the Strait of Hormuz, claiming that the United States had “TOTAL CONTROL” of the strategic waterway.
He reiterated that Iran would not be allowed to acquire a nuclear weapon, without providing further details of his discussion with Putin on the issue.
Following Trump’s announcement, the US Treasury Department said its Office of Foreign Assets Control would issue a temporary general licence permitting Russian diesel supplies to the global market, easing restrictions that have limited Russia’s energy trade.
The announcement comes as fuel prices have risen amid the war involving the United States, Israel and Iran, which has disrupted energy supplies and shipping through the Strait of Hormuz.
Diesel is widely used in freight transport, agriculture and other industries, making its price a significant factor in the cost of moving goods.
The proposed arrangement also marks a shift in Washington’s approach to Russian energy exports, following years of sanctions imposed over Moscow’s war against Ukraine.
