US Lifts Russian Diesel Sanctions as Fuel Prices Surge Ahead of Midterms
The US on Friday lifted sanctions on the sale of Russian diesel until April 7 of the following year. The announcement by the US Department of Treasury followed shortly after a conversation between US President Donald Trump and Russian President Vladimir Putin, during which an agreement was reached to supply diesel to both American and global markets. “…all transactions prohibited by the Russian Harmful Foreign Activities Sanctions Regulations that are related to the sale, delivery, offloading, or importation, including importation into the United States, of diesel fuel of Russian Federation origin are authorised through 12:01 am eastern daylight time, April 7, 2027,” the Treasury Department said.
Earlier, Trump stated that Russia will promptly provide over 300,000 tonnes of diesel, with an additional 500,000 tonnes scheduled for November, and one million tonnes to follow immediately thereafter. Russia will then deliver another 3 million tonnes of diesel based on the condition of Russia’s refineries, Trump said in a post on Truth Social. Diesel prices have experienced a significant increase globally following Ukraine’s assault on Russian refineries, which has compelled Moscow to impose a ban on diesel exports.
The assaults by the Houthi militia on refineries in Saudi Arabia have exacerbated the constraints on fuel supplies. Trump is encountering political pressure to implement measures aimed at lowering fuel prices in anticipation of the November midterm elections.
