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Trump says Putin will release diesel fuel into global market
NBC News • • general
Key Points:
- President Donald Trump announced on Truth Social that Russian President Vladimir Putin would "immediately" release hundreds of thousands of tons of diesel fuel onto the global market to help reduce diesel prices.
- The U.S. Treasury Department, following Trump's direction, issued a temporary general license easing sanctions on Russian diesel fuel imports through April 7, 2027, allowing its sale and delivery globally, including the U.S.
- Diesel prices have surged nearly 70% since the start of the Ukraine war, driven by sanctions, supply disruptions, and recent escalations, with prices hitting record highs in recent weeks.
- Russia had imposed a diesel export ban in July, extended through October, after Ukrainian attacks on its energy assets, contributing to the global diesel shortage.
- The easing of sanctions faced criticism from European leaders and Ukrainian President Volodymyr Zelenskyy, who warned it would finance Russia's war efforts; following the announcement, European diesel futures dropped 4% but remain significantly elevated year-to-date.
