Trump announces Russian diesel deliveries

After a conversation with Russian President Vladimir Putin, US President Donald Trump promised hundreds of thousands of tons of diesel from Russia. Trump announced on his Truth Social platform that he had agreed with the Russian President that more than 300,000 tons of diesel would be made available “immediately” for the USA and the global market.

A further half a million tonnes of diesel should be released during November and a million tonnes "immediately afterwards".

“Depending on the condition of its diesel refineries,” Russia also wants to deliver three million tons of diesel within a short period of time. Trump did not initially specify the time periods for this.

Russia confirms agreement

The Kremlin confirmed the agreement. "During the discussion of the situation on the global energy market, the Russian side confirmed its readiness to supply oil and oil products to the American and world markets," Putin's written statement said.

This will have a positive impact on the “entire global economy”. In the telephone conversation with Trump, both the Ukraine war started by Russia and the situation surrounding Iran were discussed.

Massive criticism from Kyiv

Sharp criticism, however, came from Ukrainian President Volodymyr Zelensky: "Permitting Russia to sell petroleum products is an investment in the war (against Ukraine), which must be ended and not extended," he wrote on Telegram. Moscow will thank you with more “terror and meanness.”

Experts: no long-term solution

Experts doubt that Russian deliveries will lead to a sustained decline in prices. "I can't emphasize enough how insignificant this is," oil analyst Rory Johnston said on X. Russia normally exports far more diesel when its refineries aren't under attack. The 300,000 tons immediately promised corresponds to about 2.25 million barrels of diesel, while the US exports around 1.5 million barrels daily.

It's clearly not a solution, but another source of support in a very tight market, Jim Mitchell of consultancy Wood Mackenzie told Reuters.

After the agreement was announced, US futures contracts for diesel fell by almost five percent to $1.23 per liter. Diesel prices, considered a key driver of inflation, have risen by 70 percent since the start of the war against Iran launched by the United States and Israel on February 28. The conflicts in Iran and Ukraine have led to fuel shortages worldwide.