Politics
U.S. eases restrictions on Russian diesel as fuel costs climb before midterms
The Trump administration temporarily lifted sanctions on Russian diesel after President Donald Trump said Vladimir Putin had agreed to release hundreds of thousands of tons for global markets. Trump said the move would bring prices down, though the announcement comes amid fuel-market disruptions tied to wars involving Iran and Ukraine.
The Trump administration temporarily lifted sanctions on Russian diesel Friday, Oct. 9, as President Donald Trump said Russian President Vladimir Putin had agreed to release hundreds of thousands of tons of fuel for the American and global markets.
Trump announced the agreement after what he described as a successful discussion with Putin. In a social media post, he predicted the additional supply would drive diesel prices down quickly, pointing to the fuel’s rising cost as the midterm elections approach in a few weeks.
Diesel prices have reached record levels amid the ongoing war involving Iran and Ukrainian attacks on Russian refineries, according to the administration’s account of the market pressures behind the move. The sanctions change represents a shift in U.S. policy toward Russian energy as the White House seeks to ease fuel costs.
Trump suggested the United States could buy the fuel, but his announcement did not specify whether U.S. purchases had been arranged or when the promised shipments would reach the market. He also asserted that the United States had control of the Strait of Hormuz, a key route for global energy shipments, and linked that claim to his prediction of lower prices.