Trump says Russia will supply diesel to US, international markets to ease prices

US President Donald Trump says Russia has agreed to ‘immediately supply’ over 300,000 tonnes of diesel to the US.

The president announced the development in a post on Truth Social on Friday, after a meeting with Russian President Vladimir Putin.

Trump added that the agreement also provides for the delivery of three million tonnes of diesel to the US.

“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein 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 said.

“Additionally, 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.”

Trump said the US control of the Strait of Hormuz and the agreement on Russian diesel supplies would drive down diesel prices in the US and globally at a record pace.

He added that lowering fuel costs for Americans, particularly farmers, ranchers and truckers, was his top priority, while reiterating that Iran would not be allowed to acquire a nuclear weapon.

The development comes as Trump seeks to secure fuel supplies and bring down prices in the US amid severe disruptions to shipping through the Strait of Hormuz.

On October 2, Trump urged European Union (EU) countries to release some of their diesel reserves to help ease soaring global fuel prices.

Later that day, the group of seven (G7) nations agreed to coordinate the release of 100 million barrels of diesel and other reserves through the International Energy Agency (IEA) to stabilise global energy markets.(TheCable)