President Donald Trump announced Friday that Russian President Vladimir Putin has agreed to release millions of tonnes of diesel fuel onto global markets following a phone call between the two leaders. According to Trump's post on Truth Social, Russia will immediately supply more than 300,000 tonnes of diesel, followed by 500,000 tonnes in November, 1 million tonnes shortly thereafter, and an additional 3 million tonnes within a short period. The Treasury Department simultaneously issued a temporary general license through the Office of Foreign Assets Control authorizing the sale, delivery, and importation of Russian-origin diesel fuel into the United States and global markets through April 7, 2027.

The Kremlin confirmed the call lasted approximately one and a half hours and covered large-scale economic initiatives, including Russian fuel supplies. Putin's envoy Kirill Dmitriev praised the agreement on X, writing that 'Russia-U.S. cooperation on diesel and energy will benefit the world.' Russian Deputy Prime Minister Alexander Novak told state news agency TASS that Russia would immediately begin lifting its diesel export ban, which had been in place since July and extended through the end of October, as a direct result of the Trump-Putin agreement.

The deal comes against the backdrop of sharply elevated diesel prices, which have risen nearly 70 percent since the start of the Iran war in February, with the national average standing at $6.27 per gallon according to the American Automobile Association. Ukrainian air strikes on Russian oil refining infrastructure have been a major factor in supply disruptions, with Ukraine's Ministry of Defence claiming more than half of Russia's oil refining capacity has been taken offline. Trump has publicly pressed Ukrainian President Volodymyr Zelenskyy to cease attacks on Russian diesel refinery plants, telling reporters, 'That's what's driving it up,' and warning Ukraine it 'has got to stop.'

Zelenskyy has rejected the characterization that he agreed to halt strikes on Russian energy assets, telling CBS News he would only stop targeting oil and gas infrastructure if Russia agreed to equivalent terms. The Kremlin, meanwhile, has intensified strikes on Ukrainian cities and critical infrastructure throughout the summer and fall. The announcement arrives one week after G7 nations agreed to release 100 million barrels of strategic reserves under White House pressure, and just weeks before the November 3 congressional elections that will determine control of Congress, lending the fuel price issue immediate domestic political significance.