Trump says Russia will export diesel, lifts sanctions

Trump says Russia will export diesel, lifts sanctions

Russia will supply the U.S. and global market with diesel, President Trump announced Friday, responding to sky-rocketing prices exacerbated by both the Russia-Ukraine and U.S.-Iran wars.

© Andrew Caballero-Reynolds, AFP via Getty Images

The president’s move comes less than a month from the midterm elections, where rising energy prices are dominating voters’ concerns.

Trump on Friday said that Russia would “immediately” supply 300,000 tons of diesel to the U.S. and the global marketplace.

“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter,” he wrote in a post on Truth Social .

“Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel,” he added.

Moscow confirmed its readiness to supply oil and petroleum to the U.S. and global markets, Putin said in a statement following the call reported by Russian state media .

Trump’s comments come after Russia banned diesel exports in the face of a shortage, with its energy production coming under attack from Ukrainian strikes. Late last month, the country had extended its ban until the end of October .

The Treasury Department said Friday that it would be lifting sanctions on Russian diesel to allow the fuel into the global marketplace. A few weeks ago, Trump signed a bill into law that authorized further sanctions on Russia.

Andy Lipow, president of consulting firm Lipow Oil Associates, said he was “skeptical” that Russia would be able to come up with the promised barrels.

Welcome to The Hill’s Energy & Environment newsletter, I’m Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.

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