Trump announced a temporary suspension of US sanctions on Russian diesel exports, permitting 300,000 tonnes to enter the American market immediately, with commitments to deliver 500,000 tonnes in November and up to three million tonnes afterward, contingent on the condition of Russian refineries damaged by Ukrainian strikes.
The US Treasury issued a temporary licence on Friday allowing the Russian fuel into the market until 7 April, while maintaining frozen assets in American banks. Putin confirmed Russia's willingness to supply both US and global markets with oil and petroleum products, though he did not specify quantities.
Ukraine's President Volodymyr Zelensky condemned the move as a "gift to Putin" and described it as "an investment in a war that must be ended, not prolonged." He called for stronger American pressure on Russia and defended Ukrainian strikes on Russian oil refineries as responses to "Russia's years-long campaign of terror against Ukraine's energy sector."
Analysts questioned the deal's efficacy. Tim Armitage, investment strategist at Quilter Cheviot, said Trump's first tranche equated to approximately 2.25 million barrels, while daily US consumption reaches around 3.8 million barrels. "It won't make a material difference to pump prices in the US," Armitage stated, calling it "a slightly desperate move by President Trump to try to lower inflation ahead of the midterms."
The current average diesel price in the US stands at $6.28 per gallon, according to the AAA, down from a record high of $6.53 recorded in late September. Brent crude remains above $103 a barrel, compared to approximately $73 before the February Iran war.
The agreement represents an reversal of Trump's recent signature on congressional legislation authorising new American sanctions on nations importing Russian oil and gas. It has opened Trump to criticism from European allies and pro-Ukraine US politicians who argue the deal funds Moscow's war effort. The UK government reiterated its commitment to supporting Ukraine through the "toughest sanctions regime ever imposed by the UK."
The BBC asked the White House what Russia would receive in return for its commitment. Trump's Truth Social post provided incomplete details regarding how Russia would supply the fuel and what compensation Moscow might obtain.