Trump strikes deal with Putin to supply Russian diesel to U.S. and global markets
President Donald Trump has few options to reduce diesel prices given the destruction done to refineries by the wars in Eastern Europe and the Middle East.
TL;DR
- President Trump announced a deal with President Putin for Russia to supply over 4 million tons of diesel to the global market.
- The Treasury Department temporarily waived sanctions on Russian diesel through April 2027.
- Ukrainian President Volodymyr Zelenskyy condemned the deal, stating it would prolong the war.
- Diesel prices have surged due to attacks on refineries in Ukraine and the Middle East.
- Trump is under political pressure to reduce fuel prices before the midterm elections.
- The article notes Trump has few options to lower prices given the destruction of global refining capacity.
- An executive order allowing truckers to use tax-exempt offroad diesel on highways was also mentioned.