US President Donald Trump said on 9 October that he had agreed with Russian leader Vladimir Putin to bring Russian diesel to world markets to lower energy prices. However, energy analysts say the deal, which drew fury in Ukraine, is unlikely to lower diesel prices meaningfully, CNN reports.
Trump wrote on social media that Putin would “immediately supply” more than 300,000 tons of diesel, with another 500,000 tons in November. Together, those volumes would cover about a day and a half of US demand, according to the US Energy Information Administration.
Meanwhile, former head of the Center for Countering Disinformation Andrii Kovalenko says that US diesel consumption alone is about 16 million tons per month, and global consumption is roughly 120 million tons.
The US experts read the move as politics more than a market shift. Trump spoke in tons rather than barrels because the figure looks bigger to an ordinary observer, said Dan Pickering, founder of Pickering Energy Partners, calling it “more politics than a game changer.”
Doubts Russia can even deliver
Former US officials question whether Putin holds the diesel Trump described, as Ukrainian strikes strain Russia’s refineries. A former senior State Department official says it hardly matters whether the fuel arrives, because Putin “has already achieved the result he wants,” with Trump believing he has a pre-election card that could move markets.
Even if the fuel flows, it would be a temporary measure. Gregory Brew of Eurasia Group says that he suspects Putin expects Ukraine to halt its strikes on Russian refineries in return, and that he cannot imagine Zelenskyy agreeing.
A win for Putin without conditions
For Putin, the gain is plain, Kovalenko says: he pushes for sanctions relief and for no new US sanctions, all without any demand to end the war in Ukraine.
"Trump’s bet was more on the news itself, driving prices down somewhat, because, in reality, figures like these shouldn’t bring prices down," Kovalеnkо believes.
He adds that Trump will "make a big fuss about diesel ahead of the elections, nothing more," and that the average American is unlikely to feel any lasting effect.”
Earlier, Ukrainian President Volodymyr Zelenskyy warned that allowing Russia to sell petroleum products abroad without securing a lasting de-escalation agreement would help finance Moscow's war against Ukraine.
He criticized the decision, calling it "a birthday gift for Putin," per Axios.
The next day after the announcement, Russia launched six bombs on Zaporizhzhia, killing 17 people.
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