Trump Strikes Diesel Deal With Putin; Treasury Waives Russian Diesel Sanctions Through April 2027
President Donald Trump announced on Friday, October 9 that after a phone call with Russian President Vladimir Putin, Russia will supply diesel fuel to the United States and global markets in a bid to bring down high U.S. fuel prices — a major reversal of U.S. policy since Washington banned Russian oil imports after Moscow's 2022 invasion of Ukraine.
Writing on Truth Social, Trump said Russia would supply more than 300,000 tons of diesel “immediately,” followed by 500,000 tons in November and 1 million tons after that, with a further 3 million tons to come depending on the condition of Russian refineries — more than 4.3 million tons in total. “Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority,” he said, describing the call with Putin as highly successful.
The Treasury Department said its Office of Foreign Assets Control, acting at the president's direction, immediately issued a temporary general license waiving sanctions on Russian diesel cargoes loaded by Friday, through April 7, 2027 — the first diesel license longer than the standard 30-day window since the Ukraine war began. The Kremlin confirmed the deal, and Russian Deputy Prime Minister Alexander Novak said Moscow would lift its own diesel export restrictions ahead of schedule, with shipments possible as early as October.
The backdrop is price pressure ahead of the November 3 midterm elections. The U.S. average diesel price hit .28 a gallon on Friday, up from .68 a year ago, according to AAA, as the war in Iran pushed fuel costs higher and farm states bore the brunt. Ultra-low-sulfur diesel futures fell about 3% after the announcement.
Ukrainian President Volodymyr Zelenskyy warned that easing sanctions would play into Putin's hands, calling it an investment in prolonging the war. One caveat: Russia banned diesel exports in July after Ukrainian strikes crippled its refineries, and the International Energy Agency estimates Russian diesel output has fallen by about 30%, so the delivery schedule could slip.
Sources: Associated Press, USA Today, The Wall Street Journal, MarketWatch, U.S. Department of the Treasury.
Source: GSM · USA (original Chinese edition)
Photo: 图片来源：Wikimedia Commons · ITookSomePhotos（CC BY-SA 4.0）
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