Trump says Russia to supply diesel to US and global market

US President Donald Trump announced on Friday that Russia will supply over 300,000 tons of diesel to the US and global market to help lower fuel prices ahead of the November midterm elections. This comes as diesel prices are near record highs, impacting agriculture, heating, and trucking industries. Trump claimed a "highly successful" discussion with Russian President Vladimir Putin, agreeing to the immediate supply of diesel.

Putin's envoy, Kirill Dmitriev, praised the cooperation between Russia and the US on diesel and energy. Trump further mentioned that Russia will supply 500,000 tons in November and 1,000,000 tons "immediately thereafter." More supply will follow based on the condition of Russian refineries damaged during Russia's war on Ukraine.

The unusual move occurs as the US has imposed sanctions on Russia's energy companies over its war in Ukraine, allowing importation of Russian diesel until April 7, 2023. Diesel prices have surged 70% since the US-Israeli war with Iran began this year. Trump emphasized lowering prices for Americans, especially farmers, ranchers, and truckers, as his top priority.

Defense production act discussions are underway to control fuel prices using the Cold War-era act to increase oil and fuel output.