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Trump announces deal for Russian diesel to enter US market

The announced terms call for more than 300,000 tonnes to be released immediately, with additional shipments planned for November and later.

Reported · Written up by our desk · Trade & Tariffs

Fuel prices in the US have surged since the US-Israel conflict with Iran began in February, with gasoline and diesel prices said to have more than doubled, according to BBC Business.

Ahead of the midterm elections, US President Donald Trump said he announced a deal with President Vladimir Putin for Russian diesel to be released immediately to the US and global markets, BBC Business reports.

The deal, as described by Trump, includes over 300,000 tonnes immediately, 500,000 tonnes in November, and another million tonnes “immediately thereafter,” with an additional 3m tonnes planned after that depending on the condition of Russian refineries.

BBC Business also notes that the fuel price spike has weighed on transport businesses, farmers, and Americans who drive vehicles.

Latest closeGasoline (RBOB) $3.156 ▼2.4%

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