Surprise turn in energy: Trump announces million-tonne diesel deliveries after call with Putin

Russia will immediately supply more than 300,000 tonnes of diesel to the US and global markets, with even larger deliveries to follow in the coming months. US President Donald Trump announced this today on his Truth Social network. He said he had arranged the deal during a phone call with Russian President Vladimir Putin, which he described as very successful.

In November, Russia will supply another 500,000 tonnes of diesel, followed soon after by a further million tonnes, according to Trump. "In addition, depending on the state of the refineries, Russia will then deliver three million tonnes of diesel within a short time," the US president wrote. He also predicted a rapid fall in diesel prices in the US and around the world.

Kirill Dmitriev, the Kremlin’s envoy for international trade cooperation, praised cooperation between Russia and the United States in the diesel and energy sectors today. He said the whole world would benefit from this cooperation.

Trump’s surprise announcement comes after the US president signed a law last month imposing sweeping sanctions aimed at putting greater pressure on Russia and helping to end the war in Ukraine.

Trump has recently blamed rising fuel prices on Ukrainian attacks on Russian oil refineries. He says the unpopular war with Iran, launched by the US and Israel at the end of February, is not responsible for the price increases. Instead, he has recently blamed persistently high prices on continued Ukrainian attacks on Russian energy infrastructure. Kyiv says it is seeking to limit Moscow’s ability to finance its war of aggression in this way.

High petrol and diesel prices pose a major problem for Trump ahead of November’s elections, in which his Republican Party will seek to retain its majority in Congress.