Trump announces Russia diesel deal with Putin to lower surging US fuel prices

U.S. President Donald Trump announced that Russia has agreed to supply millions of tons of diesel fuel to the United States and global markets to help lower skyrocketing fuel prices.

Trump said on Friday that Russia had agreed to immediately supply more than 300,000 tons of diesel to the US and global marketplace in an effort aimed at cutting prices for the fuel ahead of the November midterm elections.

The move comes as prices of diesel, used in agriculture, heating homes and trucking goods, are near record highs ahead of the November 3 congressional elections that will determine control of Congress.

As informed, Russia will immediately supply over 300,000 tonnes of diesel, followed by 500,000 tonnes in November, with subsequent multi-million-tonne consignments to follow.

The U.S. Treasury Department issued a temporary license allowing Russian diesel fuel to enter the global market under specific parameters through April 7, 2027.

This marks a notable shift given ongoing Western sanctions and restrictions targeting Russian energy exports.

Trump stated that the arrangement—coupled with U.S. positioning in the Strait of Hormuz—is designed to drive down diesel costs for American consumers and the global market.

The move comes as prices of diesel, used in agriculture, heating homes and trucking goods, are near record highs ahead of the November 3 congressional elections that will determine control of Congress.

The announcement has drawn mixed international reactions. While aimed at easing global fuel inflation, critics including Ukrainian officials have expressed concern over easing restrictions on Russian energy revenues amid the ongoing conflict.