Trump says Putin agreed to release diesel into global market

Catherine Lucey, Jennifer A. Dlouhy, Will Kubzansky, Bloomberg News on Oct 9, 2026

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President Donald Trump said Russian leader Vladimir Putin had agreed to release diesel supplies into the global market, as the administration looks to tame price hikes for the critical fuel.

Trump said Friday in a social media post that “it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter.”

He added that “based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel.”

The U.S. Treasury Department on Friday said that the Office of Foreign Assets Control is “immediately issuing a temporary general license to allow the supply of Russian diesel to the global market.”

Trump’s claims would mark a significant volume of Russian diesel hitting the market with 3 million tons being equivalent to 22.5 million barrels. The initial release of 2.25 million barrels would equal over 10% of Russia’s total diesel exports in October 2025, according to data from energy analytics firm Vortexa.

The U.S. last imported diesel from Russia in March 2022, according to Energy Information Administration data. U.S. diesel futures fell to intraday lows after settlement on the news, trading near $4.67 a gallon.

Trump on Friday claimed the releases would help lower diesel prices for U.S. farmers, ranchers and truckers — key voting blocs ahead of November midterm elections in which costs of living, including for energy, are the dominant issue. Polls show Trump at record-low approval ratings and voters largely disappointed in his handling of the economy and war in Iran.

Trump’s announcement is only the latest step by his administration to help ease fuel costs, in particular diesel, which have soared amid Russia’s war in Ukraine and the U.S. conflict with Iran. Earlier this week, Trump signed an executive order to ease restrictions on the use of a tax-exempt variety of diesel.

The prolonged Iran conflict — now in its eighth month — has crunched energy flows through the Strait of Hormuz, raising prices for fuels globally. Trump said earlier this week that he would not strike Iran again until after the November midterms, indicating what he said were productive discussions with Tehran.

Russia’s oil product shipments climbed to a three-month high in September, even as diesel flows slumped because of a government export ban. Moscow has been restricting diesel exports to shore up domestic supplies following Ukrainian attacks on its refineries. Officials were considering allowing some producers to resume shipments this month to avoid overstocking, Interfax had reported.

Trump on Friday did not indicate if he discussed any other topics with Putin, such as the recent death of a laboratory worker in Siberia that prompted speculation about pneumonic plague, or about recent U.S. efforts to jump-start peace talks to end the Kremlin’s war in Ukraine.

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