US President Donald Trump said that he had reached an agreement with his Russian counterpart, Vladimir Putin, allowing Moscow to put diesel “immediately” on global markets.
Trump explained that Putin agreed to release 300,000 tons of diesel immediately, followed by 500,000 tons in November, and an additional 1 million tons after that.
Trump wrote on his “Truth Social” platform: “Diesel prices for Americans, and indeed for the entire world, will fall at record rates and quickly!”
Putin later said that Russia is ready to supply US and global markets with oil and petroleum products.
On the other hand, Ukrainian President Volodymyr Zelensky said that any easing of sanctions imposed on Russia is in Moscow's interest and will lead to prolonging the war.
Trump's announcement comes as part of the US President's latest efforts to reduce fuel prices in his country, after he spent months dealing with the political repercussions of the war on Iran, which began in February, and its impact on global energy prices.
That war led to a sharp rise in the prices of gasoline, and diesel in particular, in the United States in recent months, which negatively affected Trump’s popularity among Americans who were affected by the rise in fuel prices at filling stations, as well as the indirect repercussions that contributed to a rise in inflation rates on a large scale.
The average price of diesel in the United States is currently $6.28 per gallon, according to the American Automobile Association, down from the record level of $6.53 set at the end of September.
Shortly after Trump's announcement, the US Treasury Department officially issued a temporary license allowing Russian diesel to be put on the market.
The BBC has learned that the US Treasury is suspending sanctions on Russian diesel exports until April 7, 2027, while other assets, such as those held in US banks, will remain frozen.
Putin said in a statement that he spoke with Trump on Friday about the global energy situation, adding: “The Russian side confirmed its readiness to supply the American market and global markets in general with oil and petroleum products.”
Kirill Dmitriev, Putin's envoy, welcomed the agreement on social media, saying: "Russian-American cooperation in the field of diesel and energy will benefit the world."
But Zelensky strongly criticized the agreement, saying that “gifts to Putin will not bring peace,” and that Russia would respond to allowing it to sell diesel with “more terrorism.”
“Allowing Russia to sell petroleum products is an investment in a war that must be ended, not prolonged,” Zelensky wrote on social media.
This year, Russia witnessed two waves of severe fuel shortages across the country, as a result of strikes launched by Ukrainian drones on Russian oil refineries.
According to the International Energy Agency, it is estimated that Russia's diesel production will decline by about 30 percent.
Trump expressed his dissatisfaction with these attacks, blaming them for the rise in fuel prices.
But on Friday, Zelensky defended these strikes, saying that they came in response to "the terror campaign that Russia has been waging for years against the Ukrainian energy sector."
He added: "Ukraine will not set fire to Russian oil refineries if Russia stops destroying our energy infrastructure."
Trump's posts on the Truth Social platform often include incomplete information, and the details regarding how Russia will supply global markets with this fuel, and what it might get in return, are still unclear.
But the announced agreement represents a remarkable shift in the American position, as Congress recently approved legislation signed by the President, allowing the imposition of new US sanctions and customs duties on countries that import Russian oil and gas.
The agreement with Russia also exposes Trump to criticism from his European allies and pro-Ukrainian politicians in the United States, who may accuse him of contributing to financing the Russian war machine.
