U.S. President Donald Trump announced on Friday that he had reached an agreement with his Russian counterpart, Vladimir Putin, for Russia to supply hundreds of thousands of tons of diesel fuel to U.S. and global markets.
"I have just concluded a very fruitful conversation with President Vladimir Putin of Russia, in which it was agreed that Russia would immediately supply more than 300,000 tons of diesel fuel to the U.S. and global markets, another 500,000 tons during the month of November, and 1,000,000 tons immediately thereafter," he wrote on his Truth Social account.
The announcement of the agreement comes amidst the diesel crisis, with fuel prices rapidly reaching record levels.
U.S. Treasury reported that following Trump’s direction, "the Office of Foreign Assets Control (OFAC) is immediately issuing a temporary general license to allow the supply of Russian diesel to the global market."
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The Trump administration moved Friday to temporarily lift sanctions on Russian diesel as President Donald Trump said Moscow had agreed to release large quantities of the fuel and suggested the U.S. could be a buyer.
ReplyDeleteThe surprise move comes as the Trump administration has struggled to bring the record diesel prices
Sanctions lifted on Russian diesel exports until April of next year
ReplyDeleteThe U.S. Department of the Treasury announced the temporary suspension of sanctions on Russian diesel shipments until 12:01 a.m. (Eastern Time) on April 7, 2027. "Today, at the direction of President Trump, the Office of Foreign Assets Control (OFAC) is immediately issuing a temporary general license to allow the supply of Russian diesel to the global market," the agency stated on its X account.
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