President Donald Trump said on Friday that Russia had agreed to immediately supply more than 300,000 metric tons of diesel to the United States and global markets, as his administration seeks to ease soaring fuel prices ahead of the November 3 midterm elections. Trump announced the agreement after what he described as a “highly successful” conversation with Russian President Vladimir Putin. He, in a social media post on Truth Social, said Moscow would provide another 500,000 metric tons in November, followed by a further 1 million metric tons “immediately thereafter”.
Ukrainian President Volodymyr Zelenskyy criticised the arrangement, calling it “an investment in a war that must be ended, not prolonged”. He argued that allowing Moscow to sell petroleum products would give Russia additional funds to sustain its war against Ukraine. The agreement was announced as a Ukrainian delegation was in the US for discussions on efforts to resolve the conflict with Russia, which began its full-scale invasion of Ukraine in February 2022.
Speaking to reporters later on WhatsApp, Zelenskyy said the arrangement would provide Moscow with additional resources to continue the war and undermine efforts to reach a settlement. “I believe our team is simply being used as a front. And that is certainly not fair, nor is it how partners should treat each other,” he said, describing the agreement as “a weak decision on the part of strong partners”.
The US Treasury Department issued a general licence on Friday permitting imports of Russian diesel until April 7. The move comes despite Washington's sanctions on Russian energy companies over the war in Ukraine.Kirill Dmitriev, an envoy for Putin, also welcomed US-Russia cooperation on diesel and energy in a post on X following the leaders' conversation.The initial 300,000 metric tons of diesel would amount to approximately 2.25 million barrels, while the US exports around 1.5 million barrels of diesel each day.
US diesel prices have climbed around 70% since the United States and Israel launched their war against Iran on February 28. The conflict, alongside the war in Ukraine, has intensified pressure on global fuel supplies. The average US diesel price reached $6.28 per gallon on Thursday, according to motoring group AAA. Prices have risen despite recent efforts by Trump to increase availability, including pressing allies to release emergency reserves and expanding access to tax-exempt red-dyed diesel, typically used in farm equipment. Following news of the agreement, US diesel futures fell sharply, trading at $4.64 per gallon, down more than 4.8%.
Newsinc24 Team
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