Trump says Russia to supply diesel to US and global markets
USO•Trump said Russia would immediately supply more than 300,000 metric tons of diesel to US and global markets, with further shipments planned. The US Treasury issued a license allowing Russian diesel imports until April 7.
1. Diesel shipments planned
Trump said Russia would immediately supply more than 300,000 metric tons of diesel, about 2.25 million barrels, to US and global markets. He said another 500,000 tons would arrive in November, followed by 1 million tons and potentially more, depending on the condition of Russian refineries. The US Treasury issued a license allowing Russian diesel imports until April 7.
2. Prices and criticism
US diesel prices averaged $6.28 a gallon on Thursday, and diesel futures fell almost 5% after the announcement. Analysts said the deal was unlikely to produce sustained price declines. Ukrainian President Volodymyr Zelenskiy and Republican Representative Don Bacon criticized the move, while the article said Russian diesel exports could provide Moscow with revenue for its war against Ukraine.
