Trump and Putin Agree to Russian Diesel Exports to US
President Donald Trump reached a deal with Vladimir Putin to import Russian diesel to lower US fuel prices before the November 3 mid-term elections.
The Malta-flagged tanker Agioi Fanendes departed the Russian port of Primorsk on October 22 carrying 40,000 metric tons of ultra-low sulphur diesel destined for New York. This shipment is the first result of an October 9 agreement between Donald Trump and Vladimir Putin to reduce diesel prices in the United States prior to the November 3 mid-term elections.
Under the terms of the deal, Russia lifted a self-imposed export ban. Trump announced an immediate export of 300,000 metric tons, with 500,000 tons scheduled for November and 1 million tons to follow shortly after. To enable these imports, Trump waived portions of a new sanctions law against Russia and threatened European nations with a US diesel export ban if they failed to release emergency reserves.
Russian Deputy Prime Minister Alexander Novak stated that Russia intends to return to its standard export volume of 3 million to 3.5 million tons per month by the end of the year.
