Why Trump's Diesel Deal With Putin To Help Midterms Was Destined To Fail
Summary
Two of three Russian diesel cargoes reportedly bound for the United States have changed destinations after President Donald Trump’s administration temporarily allowed some Russian diesel transactions. Energy analysts said the planned shipments were too small to meaningfully lower U.S. fuel prices, while buyers faced legal and political uncertainty over handling the cargoes.Key Facts
- The Treasury Department issued a temporary license after Trump’s October 9 call with Russian President Vladimir Putin, allowing certain transactions involving Russian diesel until April.
- The Financial Times and Russian outlet Agentstvo reported that the tankers Talisman and Leruo no longer listed the U.S. Atlantic coast as their destination.
- Agentstvo reported that Talisman had passed the Strait of Gibraltar and that Leruo had changed its destination to Brazil for orders.
- A third tanker, Agioi Fanendes, was due to arrive in New York, though an analyst told the Financial Times it might also divert.
- Dow Jones Energy executive Jaime Brito said the cargo volumes were too small to affect prices at the pump.
- Kpler analyst Matt Smith cited apparent hesitation among U.S. buyers because of regulatory, legislative and sanctions concerns.
- Sanctions campaigner Alexander Kirk said banks, ports and fuel distributors could face legal action or investigations for handling the cargoes.
- The article says fuel prices had risen amid the Iran war and the closure of the Strait of Hormuz.
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