Trump says US reached deal with Putin for Russian diesel

Treasury issues license allowing Russian diesel on global market

President Donald Trump said Friday that the U.S. reached an agreement with Russian President Vladimir Putin for Russia to supply hundreds of thousands of tons of diesel fuel in the coming months, an announcement he framed as an effort to lower prices for American farmers and households.

In a post on Truth Social, Trump said Russia would immediately supply over 300,000 tons of diesel fuel into the U.S. and global markets, another 500,000 tons in November, and 1 million tons “immediately thereafter.” He added that Russia would also later deliver an additional 3 million tons of diesel “within a short period of time,” based on the condition of its refineries.

Because Russia measures diesel in tons, the volumes Trump described amount to roughly 36 million barrels overall. The International Energy Agency said last month that some refineries are offline in the Middle East and Russia and that the world is short about 1.6 million barrels per day. The new Russian supplies, if released simultaneously, would close that gap for approximately three weeks.

In a statement published on social media after Trump’s post, the Treasury Department said the Office of Foreign Assets Control, at Trump’s direction, issued a temporary license to allow Russian diesel on the global market. The Kremlin did not immediately respond to a request for comment. The White House did not respond to a request for comment about the deal.

Moscow had suspended diesel exports earlier this year following Ukraine’s strikes on Russian refineries. The Russian domestic supply crunch was driven in part by dwindling supply meeting rising demand during the country’s wheat harvesting season.

Wars in the Middle East and Ukraine have pushed diesel costs sharply higher. U.S. diesel prices averaged $6.28 a gallon as of Friday, up from $3.68 a year ago, according to AAA. While surging gasoline prices in the wake of the U.S. war with Iran have hit voters nationwide, rising diesel prices have hurt farm states in particular and fueled Republican concerns about losing both the House and Senate this fall.

“Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority,” Trump said on Truth Social.

The White House has been working to restart peace talks around Russia’s war with Ukraine, which have repeatedly faltered. Washington’s approach to those talks has centered heavily on business and potential energy deals between U.S. and Russian companies.