Trump Eases Sanctions in Russian Diesel Deal

President Trump announced Friday that Russian President Vladimir Putin has agreed to "immediately" push hundreds of thousands of tons of Russian diesel onto the world market, a move Trump said is aimed at lowering prices. In return, the Treasury Department said it will loosen certain Russia sanctions through April 7, 2027, allowing sales and imports of Russian-origin diesel, including into the US, NBC News reports. Diesel prices have jumped nearly 70% since the Iran war began in February, and economists warn of broader inflation fallout.

Russia had barred most diesel exports after Ukrainian strikes on its energy infrastructure, tightening supplies and driving prices to repeated record highs. An earlier, narrower sanctions ease by Trump this year did little to stop the climb. Trump posted on Truth Social that he and Putin struck the pre-midterms deal in a phone call planned to discuss a suspected case of plague in Russia, per the AP. The plan is to release 300,000 tons of diesel now, 500,000 tons in November, 1 million tons after that, then another 3 million tons, Trump wrote.