Trump announces Russian diesel supply deal; US temporarily eases restrictions
In short
Donald Trump said he agreed with Vladimir Putin to bring Russian diesel to US and world markets, beginning with more than 300,000 tonnes immediately. Korean outlets reported that the US Treasury temporarily authorised Russian diesel transactions, including imports into the United States.
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Donald Trump said he had reached an agreement with Vladimir Putin to supply Russian diesel to the United States and world markets. According to the announcement reported by Newsis, Seoul Shinmun and Maeil Business, Russia would supply more than 300,000 tonnes immediately, another 500,000 tonnes in November and 1 million tonnes shortly afterwards. Trump said a further 3 million tonnes would follow over a short period, depending on the condition of Russian diesel refineries. Seoul Shinmun and Maeil described the announced quantities as totalling 4.8 million tonnes. [ 5 , 7 , 8 , 10 ]
The US Treasury's Office of Foreign Assets Control issued temporary permission for Russian diesel transactions after the announcement, the outlets reported. Seoul Shinmun and Maeil said sales, delivery, unloading and import transactions, including imports into the United States, would be permitted until 00:01 US Eastern time on April 7 next year. Both outlets described the licence as a temporary exception to energy-related restrictions imposed after Russia's 2022 invasion of Ukraine. [ 7 , 8 , 10 ]
Trump said reducing prices for farmers, ranchers and truck drivers was a priority and predicted that Russian supplies would help bring diesel prices down rapidly. Newsis cited the American Automobile Association as putting the US average diesel price at $6.27 a gallon, about $2.60 above a year earlier. Newsis also relayed an AP account of Putin saying Russia was ready to supply oil and petroleum products to US and global markets. The reports differ on the local date of Trump's announcement: Newsis gives October 8, while Seoul Shinmun and Maeil give October 9. [ 5 , 7 , 8 , 10 ]
Why it matters
Trump said the arrangement would lower diesel prices for farmers, ranchers and truck drivers. The reports describe temporary relief from restrictions on Russian energy supplies while the war in Ukraine continues.
Key facts
- Trump said Russia would supply more than 300,000 tonnes of diesel immediately, another 500,000 tonnes in November and 1 million tonnes shortly afterwards. [ 5 , 7 , 8 , 10 ]
- He said another 3 million tonnes would follow over a short period, depending on the condition of Russian refineries. [ 5 , 7 , 8 , 10 ]
- The US Treasury's OFAC temporarily authorised Russian diesel sales, delivery, unloading and imports, including US imports. [ 7 , 8 , 10 ]
- Seoul Shinmun and Maeil Business reported that the permission runs until 00:01 US Eastern time on April 7 next year. [ 8 , 10 ]
- Newsis, citing the American Automobile Association, reported an average US diesel price of $6.27 a gallon, about $2.60 higher than a year earlier. [ 5 , 7 ]
Confirmed by several sources
- Trump announced an agreement with Putin to supply Russian diesel to US and global markets. [ 2 , 4 , 5 , 6 , 7 , 8 , 10 ]
- The reported supply schedule begins with more than 300,000 tonnes immediately and 500,000 tonnes in November. [ 5 , 7 , 8 , 10 ]
- The US Treasury issued temporary permission for Russian diesel transactions. [ 7 , 8 , 10 ]
Still unclear
- The documents disagree on the local date of Trump's announcement. Newsis says October 8; Seoul Shinmun and Maeil Business say October 9.
- The actual effect on diesel prices is not established. Trump predicted rapid price reductions; the documents do not report subsequent market results.