Trump announces deal for Russian diesel as Zelensky criticises 'gift to Putin'
Ukraine's president said allowing Russia to sell petroleum products would prolong a war that must be ended.
U.S. President Donald Trump announced a deal with Russian President Vladimir Putin, authorizing Moscow to immediately release 300,000 tonnes of diesel into the global market, followed by additional shipments. Trump claimed this would lower diesel prices for Americans and the world, writing on Truth social: "Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST!"
Ukrainian President Volodymyr Zelensky criticized the deal, stating that gifts to Putin would not bring peace and that Russia would repay the diesel with further terror. He argued that easing sanctions on Russia would prolong the war, which must be ended. Zelensky defended Ukraine's ongoing attacks on Russian oil refineries, saying they were in response to Russia's years-long terror campaign against Ukraine's energy sector.
The U.S. Treasury issued a temporary license for Russian diesel to enter the market shortly after Trump's announcement. The average diesel price in the U.S. currently stands at $6.28 a gallon, down from a record high of $6.53 at the end of September. Diesel production in Russia has fallen by nearly 30% due to Ukrainian drone strikes on refineries, according to the International Energy Agency.
The impact of the deal on fuel prices in the U.S. remains uncertain, as the global benchmark for crude oil, Brent, remains above $103 a barrel. Trump has previously discussed various measures to lower fuel prices, including suspending the federal tax on gasoline and allowing red dye diesel to be used on U.S. highways without federal tax. He has also secured G7 nations' release of 100 million barrels of oil and diesel from stockpiles.
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