President Donald Trump said Russia will send more diesel fuel to global markets after a phone call with Russian President Vladimir Putin. Trump said the move could help lower energy costs before the US midterm elections. However, market experts doubt the planned shipments will have a major effect on fuel prices.
Trump said Putin had agreed to supply more than 300,000 tons of diesel at once. Russia will also send another 500,000 tons in November. Together, the shipments would equal about six million barrels of diesel fuel.
This amount would meet US demand for about one and a half days, according to figures from the US Energy Information Administration. Trump also said Russia could send millions of tons more later. He added that future supplies would depend on the condition of Russian diesel refineries.
Experts said the deal could add some fuel to the market. Yet they warned that the planned shipments may not be large enough to bring a major fall in diesel prices.
Dan Pickering, founder and chief investment officer of Pickering Energy Partners, said the deal could raise global diesel supply by about 5% to 6% between now and the end of the year.
Pickering said the extra supply would help the market but would not change it in a major way. He also noted that the figures were given in tons rather than barrels. This choice of measure could make the amounts seem larger to the public.
Russia banned diesel exports in early July after Ukrainian drone strikes hit its refineries. The attacks caused fuel shortages across Russia and cut the amount of diesel available to buyers abroad.
The ban removed about 800,000 barrels per day from the global market. The loss came as fuel supplies were already tight due to the US war against Iran. Russia extended the export ban last month, adding to pressure on energy markets.
The new promise could bring some Russian diesel back to global buyers. However, traders and analysts have questioned whether Moscow can deliver the full amount. Damage to refineries and limits on output could affect future supplies.
A statement from the Kremlin said Putin told Trump that Russia was ready to supply oil and petroleum products to the United States and other markets.
Putin said he believed the move would help the global economy. Trump also welcomed the announcement at the White House on Friday. He said oil prices were falling sharply and expressed support for the expected shipments.
Diesel futures fell by about 4% by the close of trading on Friday. Still, this price move does not prove that the Russian deal alone caused the decline.
The announcement angered Ukraine, which has long called for tougher limits on Russian energy exports. Kyiv says money from oil and gas sales helps Russia fund its war.
Ukraine has also stepped up attacks on Russian oil sites in recent months. Kyiv has continued these strikes despite calls from Trump to stop them. This week, Ukraine claimed attacks on four refineries across Russia.
Ukrainian President Volodymyr Zelensky criticized the plan to allow more Russian diesel exports. He called it a weak decision by powerful partners.
Zelensky said the sales would bring more money to Russia. He warned that the extra income could help Moscow continue the war and cause more suffering in Ukraine.
His comments came as Russian attacks on Ukrainian cities continued. Ukraine has faced a serious shortage of air defense missiles. This has made it harder for its forces to stop repeated attacks from the air.
On Thursday, a strike on a bus stop in eastern Ukraine killed more than 30 people, according to the report. The attack added to concerns about the safety of civilians.
Zelensky also objected to the timing of Trump’s announcement. A senior Ukrainian team had arrived in Miami for talks with US envoy Steve Witkoff and Trump’s son-in-law Jared Kushner.
The meetings took place as Trump spoke with Putin about energy supplies. Zelensky said the timing was painful for Kyiv, as its team was seeking support from US officials.
He pointed to the contrast between the talks in Florida and Trump’s call with the Russian leader. Zelensky said Ukraine was trying to work with Washington while Russia continued its attacks.
The deal now faces two main tests. Russia must show that it can deliver the promised diesel despite problems at its refineries. The market must also show whether the extra fuel can help bring down costs.
For Trump, lower energy prices remain a key goal before the midterm elections. For Ukraine, the deal raises fears that new Russian fuel income could support the war. Experts say the shipments may help supply levels, but their effect on prices is likely to remain limited.
