Trump’s deal with Putin will have little impact on US diesel prices, experts say
Summary
President Donald Trump made a deal with Russian President Vladimir Putin to temporarily lift sanctions on Russian diesel imports to the US. Experts say this deal will have little impact on lowering diesel prices in the US because the amounts shipped are too small and will arrive too late.Key Facts
- The deal allows Russia to send 300,000 tonnes of diesel immediately, with more to follow in November and after.
- 300,000 tonnes equals about three-quarters of US diesel use for one day.
- Diesel prices in the US have risen nearly 70% since the war with Iran began, reaching about $6.30 per gallon.
- Experts say the shipment will take about three weeks to reach the US, making it unlikely to affect prices before the midterm elections.
- The US Treasury suspended sanctions on Russian diesel until April 7 but kept other sanctions in place.
- Ukrainian President Zelenskyy criticized the deal, saying it encourages Russia’s attacks on Ukraine.
- President Trump blamed Ukraine’s strikes on Russian energy for higher fuel prices and called for new Ukrainian leadership.
- Energy analysts say the deal is unlikely to reduce prices and may cause complications for companies tracking Russian products amid sanctions.
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