US President Donald Trump announced on Friday that he had reached an agreement with Russian President Vladimir Putin to release diesel supplies to the United States and international markets. Trump said Moscow would begin releasing the fuel immediately, with additional shipments expected in the coming months. Trump expressed confidence that the agreement would help reduce fuel prices quickly. He predicted that the increased supply would send prices “COMING DOWN, IN RECORD NUMBERS, AND FAST!” According to Trump, Russia has agreed to release 300,000 tonnes of diesel immediately. The country would then supply another 500,000 tonnes in November, followed by an additional one million tonnes. Russia would deliver a further three million tonnes “within a short period” afterwards, Trump said. However, the timing of the additional shipments would depend on the condition of Russian refineries. Ukraine has targeted several Russian refineries during the ongoing war, potentially affecting the country's ability to maintain fuel production. Russia also confirmed its willingness to supply oil and petroleum products to the United States and other international markets. Putin expressed confidence that these supplies could positively affect the global economy.

US Moves to Ease Sanctions on Russian Diesel Exports

The agreement also involves temporary relief from certain US sanctions on Russian diesel exports. The US Treasury Department is understood to have suspended these restrictions until April 7, 2027. However, other Russian assets, including funds held in American banks, will remain frozen. Following Trump's announcement, the Treasury Department issued a temporary licence allowing Russian diesel to enter the market. The move could provide additional fuel supplies at a time when energy prices remain elevated. Putin later confirmed that he had discussed the global energy situation with Trump on Friday. In a statement, he said, “The Russian side confirmed its willingness to supply oil and petroleum products to the US market and global markets at large,” However, the Russian president did not disclose the quantities of fuel Moscow would supply or provide a detailed schedule for the deliveries.

Zelenskyy Criticises US Decision to Ease Russian Sanctions

Ukrainian President Volodymyr Zelenskyy strongly criticised the decision to ease sanctions on Russian diesel exports. He argued that reducing economic pressure on Moscow would benefit Russia and could prolong its war against Ukraine. The announcement comes as the Trump administration faces growing pressure to bring down fuel prices in the United States. The Iran war, which began in February, has contributed to a sharp increase in global energy costs and created political challenges for the US president. Higher energy prices have pushed up the cost of petrol and diesel across America. American consumers have faced rising expenses at fuel stations, while higher energy costs have also contributed to broader inflation. The increase in living costs has affected Trump's public standing as voters continue to feel the financial pressure.

US Diesel Prices Remain High Despite Recent Decline

According to the American Automobile Association (AAA), the average price of diesel in the United States has reached $6.28 per gallon, equivalent to approximately £4.74. Although prices have recently declined, they remain close to the record high of $6.53 per gallon recorded at the end of September. Trump's agreement with Putin is aimed at increasing available diesel supplies and easing pressure on the American energy market. However, the extent to which the additional Russian shipments will reduce fuel prices will depend on the timing of deliveries, Russia's refinery capacity and wider developments in global energy markets.