US President Donald Trump has claimed that Russian President Vladimir Putin has agreed to supply millions of tonnes of diesel to US and global markets. Due to this, fuel prices are expected to drop rapidly. The announcement comes a day after Putin met with Iranian President Masoud Pejashkian in Turkmenistan. At the meeting, Putin promised that Moscow would do its best to help end the war between the US and Iran. Trump said in a post on ‘Truth Social’ that he had a “very successful conversation” with Putin. During these talks, Russia agreed to supply more than 3,00,000 tonnes of diesel immediately, followed by 5,00,000 tonnes in November and then 1 million tonnes of diesel. Trump also claimed that Russia would supply an additional 3 million tons of diesel in the short term, provided Russian diesel refineries were in good condition.

Diesel prices will come down

The US president linked this alleged agreement to his administration’s efforts to control the Strait of Hormuz. He said the combination of Russian energy supplies and American control of this strategic waterway would lower diesel prices for American consumers and the rest of the world. Trump wrote that our total control of the Strait of Hormuz and this spectacular announcement about Russian energy will send diesel prices to record lows and rapidly falling for Americans and the world. He also reiterated his stance on Iran’s nuclear program, saying that in addition, it is important to understand that Iran will not have nuclear weapons!

Russian diesel will reach world markets

According to a statement issued by the Kremlin, the Russian President has approved the agreement and is fully prepared to supply oil and petroleum products to the US and global markets. According to the Kremlin, during their conversation, Putin and Trump also “discussed the resolution of the Ukraine crisis, the situation regarding Iran and various aspects of bilateral relations.” Speaking to reporters outside the Oval Office about the Russian diesel deal, Trump said, “I think you’ve heard about the oil deal.” Our country receives large quantities of this oil, and this is what we need.

This is how much Russian diesel will reach American markets

After Trump’s announcement, Putin’s envoy Kirill Dmitriev spoke with Washington about a deal to release 3,00,000 metric tons of diesel. Dmitriev wrote on X that Trump and Putin just had a successful conversation. He further said that the world will benefit from Russia-US cooperation in the matter of diesel and energy. Russia’s Deputy Prime Minister for Energy Alexander Novak said Moscow is ready to supply 3,00,000 tonnes of diesel to the US market in October, 5,00,000 tonnes in November and 1 million tonnes in December, according to the terms previously stated by Trump. He told Russian news agencies that in the long run this volume could reach 3 million tons per month.

Pressure to reduce fuel prices

The announcement comes after a period of rising diesel prices in the US amid disruptions to global energy supplies related to the Iran conflict and the Russia-Ukraine war. According to Reuters, diesel prices in the US have risen sharply since the start of the US-Israeli war against Iran, increasing pressure on the Trump administration to lower fuel prices. Trump’s statement came after a meeting between Putin and Pezheshkian on October 8 in Avaza, Turkmenistan. During the meeting, the Russian president promised that Moscow would do everything in its power to help resolve the conflict involving Iran and the US.

America is trying to end the Iran war

According to Russian news agencies, Putin said that we are ready to do everything in our power to resolve this situation. Putin also said that Iran is making sincere efforts to end the conflict and has presented a new proposal aimed at resolving the crisis through peaceful means. Meanwhile, Pajeshkian said Iran and the US have exchanged proposals aimed at ending the war and reopening the Strait of Hormuz. He said Tehran is reviewing and revising these proposals before taking them forward through current mediators. The meeting comes at a time when diplomatic efforts to end the conflict are uncertain. Russia has offered help in resolving the crisis, although it is not one of the official mediators involved in the US-Iran talks.

Supply of diesel will increase

The US president’s statement comes at a time when the conflict with Iran has disrupted energy supplies and raised concerns about the availability and cost of refined fuel. The ongoing conflict in Iran and Ukraine has pushed diesel prices to near record-breaking levels and created a fuel supply crisis around the world. According to the American Automobile Association (AAA), the average price of diesel is currently $6.27 per gallon. A year ago the average price was $3.67 per gallon ($0.97 per liter).

The Strait of Hormuz, an important route for oil and gas supplies worldwide, is at the center of this crisis. Obstacles in and around the waterway have raised concerns about energy supplies, while the ongoing conflict and war in Ukraine have added pressure on already strained fuel markets.