United States President Donald Trump announced that Russia has agreed to supply 300,000 tonnes of diesel fuel to global markets following discussions with Russian President Vladimir Putin.
In a statement shared on his social media platform, Trump detailed that Russia will immediately provide over 300,000 tonnes of diesel fuel to the American and global marketplace, followed by another 500,000 tonnes during the month of November, and one million tonnes immediately thereafter. The president further noted that Russia would deliver an additional three million tonnes of fuel within a short period of time.
Kirill Dmitriev, an envoy for the Russian president, praised the energy cooperation between the two nations shortly after the announcement, stating on social media that cooperation on diesel and energy will benefit the world.
The agreement arrives despite the impact of Ukrainian air strikes, which Ukrainian defense officials claimed have taken more than half of the country's oil refining capacity offline. This development also follows a decision by G7 nations a week prior to release 100 million barrels of oil following pressure from the White House.
While diesel prices have remained elevated in recent months, they have begun to experience a slight decline. According to tracking data from the American Automobile Association, the average price for a gallon of fuel sits at $6.27, representing a decrease of ten cents from the previous week but a significant elevation compared to prices from earlier periods.