Trump announces deal with Putin to release Russian diesel
Diesel prices in the US have doubled since the war with Iran began in February, putting pressure on Republicans ahead of the midterms.
US President Donald Trump has announced a deal with Russian President Vladimir Putin to release Russian diesel into the global market, with immediate and future deliveries aimed at reducing fuel prices. The deal includes 300,000 tonnes of diesel to be released immediately, followed by 500,000 tonnes in November and an additional million afterwards.
Trump believes this will significantly lower diesel prices in the US and worldwide. Diesel prices in the US have doubled since the start of the Iran war in February, currently standing at $6.28 a gallon, down from a record high of $6.53 in September. Shortly after the announcement, the US Treasury issued a temporary license for Russian diesel to enter the market.
Putin's envoy, Kirill Dmitriev, praised the deal on social media, stating that Russia-US cooperation on diesel and energy will benefit the world. This move comes as part of Trump's ongoing efforts to lower fuel prices in the US. Earlier, Trump considered suspending the federal tax on gasoline and allowed red dye diesel to be used on US highways without federal tax.
He also pressured G7 nations into releasing 100 million barrels of oil and diesel from stockpiles to address supply concerns, and supported a ban on diesel exports from the US.
Written by urgent.news from BBC World's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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