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Trump Strikes Deal with Putin to Supply Russian Diesel to U.S. and Global Markets
On Friday, October 9, 2026, President Donald Trump announced that Russian President Vladimir Putin agreed to immediately supply over 300,000 tons of diesel fuel to the American and global marketplace, describing the discussion as "highly successful."
Since the start of the Iran war in February, diesel prices have soared nearly 70%, while the Kremlin imposed a diesel export ban in July following Ukrainian attacks on energy assets, tightening global supply.
Russia will deliver 500,000 tons in November and 1,000,000 tons immediately thereafter, with 3 million tons expected shortly; the Treasury Department's Office of Foreign Assets Control is issuing a temporary general license to facilitate these shipments.
Moscow aims to link this energy supply to ceasefire arrangements in the Black Sea, using the supply as a bargaining chip while potentially pressing for the release of frozen assets, according to diplomatic sources.
It remains unclear how these shipments will function given wide-ranging sanctions applied to Russia since the invasion of Ukraine, and Trump claims prices will drop, though observers question the deal's effectiveness.
The US President claimed that he had reached an agreement with his Russian counterpart, Vladimir Putin, under which Russia would supply a large volume of its diesel to immediately reduce prices on the global market and in the US.
This surprise announcement, confirmed by Vladimir Putin, coincides with a resumption of discussions between Americans and Ukrainians on the war with Russia.