Brazil Watches as US Clears Russian Diesel to April 7
After a Trump-Putin call, the US Treasury cleared trade in Russian diesel until 7 April 2027. Brazil's fuel importers expect more supply and lower prices. The post Brazil Watches as US Clears Russian Diesel to April 7 appeared first on The Rio Times .
On Friday, the United States cleared Russian diesel for its American and global markets, according to a licence issued by the Treasury's sanctions office. This move could potentially ease diesel prices at home for Brazil, which imports most of its diesel and competes with US farmers on soybeans and corn. The licence, which covers the sale, delivery, offloading, and importation of Russian diesel until April 7, 2027, was issued after a phone call between President Donald Trump and Russian President Vladimir Putin.
Trump announced the arrangement on social media, stating that Russia would supply over 300,000 tonnes of diesel immediately, with further deliveries expected in November and thereafter. From March to April, Brazil imported $1.76 billion worth of diesel, with 81.25% coming from Russia, while the US supplied the rest. However, after the licence was issued, US suppliers took over, with about 80% of Brazil's diesel imports coming from them in September.
The new flows are expected to keep diesel prices lower in the US, potentially benefiting Brazilian buyers by providing a second major source of diesel. However, there are limits to the licence, as it does not permit any transactions with Russia's central bank, national wealth fund, or finance ministry.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
