Trump says Putin agrees to major release of diesel to US, global markets

US President Donald Trump announced on Friday (Oct 9) that Russia had agreed to release a substantial amount of diesel fuel to the United States and global markets, potentially easing sanctions on Moscow. The deal involves an initial shipment of over 300,000 tonnes of diesel, followed by additional releases in November and the months that follow.

Trump's announcement came as gasoline and diesel prices in the US had surged due to the Iran Strait of Hormuz blockade, which has placed economic pressure on American households. The US Treasury Department had previously issued temporary sanctions waivers to address oil supply shortages. The move aimed to lower energy costs ahead of the US midterm elections, where Trump's Republican Party faces the risk of losing its grip on Congress, and voters struggle with mounting cost of living concerns.