Trump Announces Increase in Russian Diesel Supplies After Talks with Putin
US President Donald Trump said that after talks with Russian leader Vladimir Putin, Moscow has agreed to boost diesel deliveries to the American and global markets. Analysts doubt the extra volumes will bring down diesel prices for long.
US President Donald Trump said on 9 October that he had held "very successful" talks with Russian President Vladimir Putin, and that Moscow had agreed to raise diesel fuel supplies to the American and global markets. The details were reported on 10 October by ERR radio news.
Delivery volumes
Trump said Russia would immediately deliver more than 300,000 tonnes of diesel. A further 500,000 tonnes are expected in November, followed by an additional million tonnes. According to the US president, the size of later shipments will depend on the condition of Russian oil refineries.
US and Russian confirmation
On the same day, the US Treasury Department announced a temporary general license. It permits operations involving the sale, delivery, unloading and import of diesel of Russian origin, and remains valid until 7 April 2027.
Russian Deputy Prime Minister Alexander Novak confirmed the arrangement, saying a decision had been made to lift restrictions on diesel exports ahead of schedule. He said Russia would begin implementing it without waiting for the previously set deadlines.
Question of prices
Trump explained the agreement as an effort to lower fuel prices. However, analysts surveyed by Reuters doubt that the additional Russian volumes will be able to reduce the cost of diesel on the world market for any extended period.
