In brief
In a surprise move, President Trump announced a deal with Russian President Putin that will see 300,000 tonnes of diesel released immediately and millions more following later this year. The agreement comes as U.S. diesel prices, currently around $6.28 a gallon, have spiked during the Iran conflict. The U.S. Treasury swiftly issued a temporary license for Russian diesel imports, while a Putin envoy praised the partnership. Analysts note the deal’s impact on the upcoming midterms and global energy markets.
US President Donald Trump announced that he has reached an agreement with Russian President Vladimir Putin allowing Moscow to release diesel into the global market.
Under the deal, Russia will immediately release 300,000 tonnes of diesel, followed by 500,000 tonnes in November and a further one million tonnes thereafter.
Trump stated that diesel prices would "come down in record numbers, and fast," citing the ongoing war with Iran in February that has pushed U.S. diesel to a $6.28 average per gallon.
Following the announcement, the U.S. Treasury issued a temporary license permitting Russian diesel imports.
Putin’s envoy Kirill Dmitriev welcomed the cooperation, saying the deal would benefit the world.
Viewers can now join a virtual press conference in metaworld.media’s interactive lobby to discuss the implications of this energy pact.
