Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets

US President Donald Trump announced that Russia has agreed to supply millions of tons of diesel fuel to the US and global markets following a call with Russian President Vladimir Putin. According to Trump, Russia will supply over 300,000 tons of diesel fuel immediately, another 500,000 tons in November, and 1,000,000 tons thereafter.

The US Treasury's Office of Foreign Assets Control is issuing a temporary general license to allow the supply of Russian diesel to the global market, as per Trump's direction. This move comes as Russia seeks relief from US sanctions in talks over a potential halt to attacks on energy infrastructure in its war with Ukraine, according to the Kyiv Independent.

The supply of Russian diesel fuel is expected to bring down diesel prices for Americans and the world. Trump also mentioned that the US has "total control" of the Strait of Hormuz, which is a critical waterway for energy shipments. However, there are ongoing concerns about maritime security threats in the region, particularly around the Strait of Hormuz, as reported by Hellenic Shipping News.

Brief written by urgent.news from CNBC, CNBC World, Kyiv Independent, Hellenic Shipping News — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.