Trump says US to get diesel from Russia in stunning bid to ease prices

Former President Donald Trump announced on social media that Russia will provide the United States with substantial amounts of diesel fuel. This unexpected move aims to alleviate high fuel prices ahead of the US midterm elections. Trump claimed that Russia will initially supply over 300,000 tons of diesel, followed by another 500,000 tons in November and an additional million tons shortly after. The country is also expected to deliver 3 million tons within a short period after that.

This announcement comes after Trump signed a comprehensive Russia sanctions law last month. The law targeted various aspects of Russia, including its energy economy, which is crucial for its war against Ukraine. However, Trump did not discuss the sanctions or Russia's ongoing conflict. Instead, he emphasized the importance of lowering fuel prices for Americans, particularly farmers, ranchers, and truckers, as his top priority.

The new sanctions law prohibits any new US investment in Russia and restricts handling of sovereign debt. It also imposes tariffs of up to 100% on the top five importers of Russian oil or natural gas, with exceptions for countries importing less than 15% of Russia's natural gas exports and those that have reduced their imports significantly. Notably, the US has not imported Russian oil or gas since 2022 due to Russia's invasion of Ukraine.

Following Trump's announcement, the US Treasury Department issued an immediate temporary license to allow Russian diesel to enter the global market. Global fuel prices have been surging as the war in Iran disrupts the energy sector. The national average for a gallon of diesel in the US reached $6.23 on Friday, surpassing the previous record of $6.52 set on September 22.