Business · Trade · 7 hrs ago
US says Russian diesel imports could lower fuel prices
US Treasury Secretary Scott Bessent said importing Russian diesel could lower prices for Americans.
The proposed supplies involve Russia and the United States, whose presidents discussed petroleum product deliveries in a phone call on October 9.
Russia said it is ready to supply oil and petroleum products to the United States and other markets.
Deputy Prime Minister Alexander Novak said Russia plans to send 300,000 tons of diesel in October, 500,000 tons in November and 1 million tons in December.
He said monthly shipments could later rise to 3 million tons.
The US administration issued a general license allowing Russian diesel supplies to the global market through April 7, 2027.
The expected benefit cited by Bessent is lower diesel prices, while the stated shipment volumes are Russia’s plans.
US Treasury Secretary Scott Bessent said Russian diesel imports could lower fuel prices for Americans.
Bessent described agreements to import Russian diesel as beneficial to the American people.
Russia said it was ready to supply diesel to the United States and global markets.
Russia plans to supply 300,000 tons in October, 500,000 tons in November and 1 million tons in December.
The US administration issued a license authorizing Russian diesel supplies to the global market until April 7, 2027.
- Who
- US Treasury Secretary Scott Bessent discussed the potential benefit. Russia is ready to supply diesel.
- What
- Russian diesel imports could lower prices, Bessent said.
- When
- Bessent made the statement on October 11, 2026. The leaders’ call took place on October 9.
- Where
- The United States and global markets.
- Why
- Bessent said the imports would bring diesel prices down.
This story does not have two clearly opposing sides.
This [the agreement] is good for the American people, bringing these diesel prices down
Presidents Vladimir Putin and Donald Trump spoke by phone and discussed petroleum product supplies.
Russia said it was ready to supply 300,000 tons of diesel.
Russia plans to increase diesel supplies to 500,000 tons.
Russia plans to increase diesel supplies to 1 million tons.
The US license authorizing Russian diesel supplies to the global market is set to expire.
- October 2026 supply
- Russia is ready to supply 300,000 tons of diesel
- November 2026 supply
- Russia plans to supply 500,000 tons
- December 2026 supply
- Russia plans to supply 1 million tons
- Potential later monthly supply
- Up to 3 million tons
- US license expiry
- April 7, 2027
Sources
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