Skip to content
Markets

Trump’s fuel-price push turns to Russian diesel

The president defended buying millions of barrels and easing sanctions, saying he wants Russia to stay at the bargaining table.

Trump's fuel-price push turns to Russian diesel

President Trump defended on Oct. 18 a plan for the U.S. to buy millions of barrels of Russian diesel, tying the move to fuel prices before the midterm elections. Reaction pending.

The president also said he would lift Russia sanctions linked to legislation honoring Sen. Lindsey Graham, pairing the diesel plan with a wider turn toward Moscow. The energy claim centers on diesel, a fuel used by trucking, farming and industry, where supply disruptions can feed quickly into business costs.

Russian diesel sanctions clash

Trump said on Truth Social that he does not want to push Russia away from negotiations. "Great progress is being made, and that includes current hostage negotiations!" he wrote, adding that Russia was doing less to help Iran than it could.

Trump blamed Ukrainian attacks on Russian diesel refineries for pressure on world diesel markets, including in the U.S. He said Russia was still sending low-priced diesel into global markets and argued that farmers, ranchers and businesses were being hurt by the refinery strikes.

The statement puts U.S. energy

policy, Ukraine strategy and Russia sanctions into the same fight.

If the diesel purchases proceed, the administration will need to explain cargo timing, sanctions treatment and pricing terms; if the backlash stalls the plan, the immediate diesel supply effect would stay theoretical.

Energy traders will watch Monday, Oct. 19, for any administration detail on shipments, waivers or purchase terms that would let the market size the plan’s effect on U.S. diesel supply.

More stories

Latest news