Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets
President Donald Trump has few options to reduce diesel prices given the destruction done to refineries by the wars in Eastern Europe and the Middle East.
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 development is also linked to Trump's comments on not launching military strikes against Iranian targets before the November midterm elections, which temporarily calmed fears of an immediate, severe military escalation that could halt Persian Gulf energy transits.
Brief written by urgent.news from CNBC World, CNBC, Kyiv Independent, Hellenic Shipping News — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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