United States President Donald Trump said Russia will immediately supply more than 300,000 tonnes of diesel fuel to global markets, with additional deliveries planned. In a post on his Truth Social platform, Trump stated he had concluded a "highly successful discussion" with President Vladimir Putin, in which Russia agreed to supply over 300,000 tonnes immediately, another 500,000 tonnes in November, and 1,000,000 tonnes "immediately thereafter." The president added that Russia would deliver an additional three million tonnes "within a short period of time."
Kirill Dmitriev, an envoy for President Putin, praised the cooperation on social media, writing: "Russia-US cooperation on diesel and energy will benefit the world."
The announcement follows Ukrainian air strikes that have taken more than half of the country's oil refining capacity offline, according to Ukraine's Ministry of Defence. It also comes a week after G7 countries agreed to release 100 million barrels of oil and diesel amid pressure from the White House.
Diesel prices remain near record highs. The average price for a gallon is $6.27 (USD), according to the American Automobile Association (AAA), down $0.10 from the previous week but up $5.94 from one month ago. Diesel prices have risen 70 percent since the US and Israel's war on Iran began this year, despite prior moves by Trump to boost fuel supplies, including pressing allies to release emergency reserves and expanding access to tax-exempt red-dyed diesel for farm equipment. The wars in Iran and Ukraine have created an unprecedented global fuel supply crunch.