Trump's Russia-Ukraine Energy Ceasefire May Only Cover Oil Refineries

President Trump announced an energy ceasefire proposal between Russia and Ukraine on social media, which, according to a White House official, only covers attacks on oil refineries. No formal confirmation of the deal has been received from Russia as of yet. The White House official described the proposal as "refinery for refinery," meaning both sides would cease attacks on each other's oil refineries.

However, Ukrainian President Volodymyr Zelensky expressed doubt about the agreement, stating he was unaware of it and that Kyiv was prepared to accept a reciprocal energy ceasefire. He further emphasized that any deal must also protect Ukraine's electricity infrastructure. Russian President Vladimir Putin has not yet commented on the proposal.

Despite the refinery-only ceasefire, Ukrainian forces reported attacks on a heat and power plant in Kharkiv, indicating that a comprehensive energy ceasefire is not yet in place. The U.S. President's incentive for this agreement is the continuing rise in global diesel prices, which has been a concern ahead of the U.S. midterm elections.