Trump says he “agreed with Putin” that Russia will supply millions of tons of diesel; US eases sanctions until April 2027

US President Donald Trump announced on Friday, October 9 that he had agreed with Russian President Vladimir Putin that Russia would put large quantities of diesel on the American and global markets. “I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter,” Trump wrote in a Truth Social post, as quoted by Fox Business.

According to the US president, depending on the condition of Russia’s refineries, Moscow would then deliver a further 3,000,000 tons “within a short period of time”. “Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!” he added. Trump wrote that lower prices, “especially our Great Farmers, Ranchers, and Truckers”, are his “Greatest Priority”, and ended the post with a line saying it must be understood that Iran will not get a nuclear weapon.

Temporary license from the US Treasury

At the same time, the US Treasury announced that the Office of Foreign Assets Control (OFAC) was issuing a temporary general license for Russian diesel. “Today, at President Trump’s direction, the Office of Foreign Assets Control (OFAC) is immediately issuing a temporary general license to allow the supply of Russian diesel to the global market,” the Treasury said on X, according to NBC News. NBC reports that the text of the license authorizes “the sale, delivery, offloading, or importation, including importation into the United States, of diesel fuel of Russian Federation origin” until 12:01 a.m. EDT on April 7, 2027. The wording explicitly covers imports into the United States itself.

What the Kremlin has said

The quantities so far come from Trump alone. In its readout of the call, which according to Al Jazeera lasted about an hour and a half, the Kremlin said only that “the Russian side reaffirmed its readiness to supply oil and oil products to the American and world markets”. NBC notes that Putin gave no specifics on when any release would begin or how much fuel it would involve. Russian Deputy Prime Minister Alexander Novak told the state news agency TASS that Russia would immediately begin lifting its diesel export ban as a result of the agreement, NBC reports. Kirill Dmitriev, Putin’s envoy, wrote on X that “Russia-US cooperation on diesel and energy will benefit the world”.

Ukrainian President Volodymyr Zelenskyy criticized the move. He called the easing of sanctions “an obvious weakness” that “plays into Russia’s hands”, NBC reports. In a separate post quoted by CBS News, he said that “gifts to Putin will not bring peace or any benefit to the civilized world”.

The announcement comes as Moscow is asking Washington for sanctions relief as part of a possible energy ceasefire with Ukraine, a subject on which a Ukrainian delegation is meeting US envoys in the United States on October 9 and 10. NBC noted that it was unclear late Friday whether those talks would go ahead as planned.

Record prices and Russian refineries out of action

According to NBC, the price of diesel has risen almost 70% since the start of the war with Iran in February and has repeatedly set all-time records in recent weeks. After a series of Ukrainian attacks on Russian energy facilities, the Kremlin banned diesel exports in July and has extended the ban to the end of October. On the night of October 9 alone, Ukrainian strikes reportedly hit a plant in Tver and a fuel depot in Belgorod. NBC reports that diesel futures fell 4% on Friday after the announcement but remain up more than 110% since the start of the year, while Brent crude, at around $104 a barrel, barely moved.

Less than a month before the midterms

The announcement comes less than a month before the November 3 midterm elections, with the Trump administration struggling to hold down fuel prices. On Thursday, October 8, Trump had pledged that the United States would not attack Iran before the elections, while the blockade remains in force. NBC recalls that earlier this year Trump temporarily eased sanctions on Russian oil on the water, through a series of 30-day waivers, to slow the rise in oil prices, without a significant effect.