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Trump says Russia to supply diesel to US and global markets
Reuters • • general
Key Points:
- President Donald Trump announced that Russia agreed to supply over 300,000 metric tons of diesel to the US and global markets, leading to a temporary lifting of US sanctions on Russian fuel aimed at cutting Moscow's war revenues.
- Diesel prices, which have surged due to global conflicts including the wars in Iran and Ukraine, fell nearly 5% following the announcement but analysts warned the deal is insufficient to sustain lower fuel prices.
- Ukrainian President Volodymyr Zelenskiy and some US lawmakers criticized the agreement, arguing it provides financial support to Russia that could prolong the war in Ukraine.
- The US Treasury Department issued a license allowing Russian diesel imports until April 7, while Trump indicated further shipments are expected, contingent on the condition of Russian refineries.
- Trump plans to use the Defense Production Act and other measures to increase domestic diesel production, aiming to address fuel price spikes and supply vulnerabilities exacerbated by ongoing global conflicts.
