World · Europe · 6 hrs ago
Bessent says sanctions do not block Russian diesel deal with US
US Treasury Secretary Scott Bessent says US sanctions do not prevent a deal to supply Russian diesel to the United States and international markets.
US President Donald Trump and Russian President Vladimir Putin agreed to the deal on October 9.
A sanctions law signed by Trump in September allows tariffs of up to 100% on countries that buy Russian oil and gas.
Bessent said lawmakers who argue that the law or a proposed bill blocks the deal are mistaken.
Democratic senators said the agreement conflicts with the interests of Ukraine, US allies in Europe and US national security.
One estimate puts the first shipment at 2.25 million barrels, compared with US daily diesel use of about 3.8 million barrels.
An analyst said the deal is unlikely to significantly affect prices at US gas stations, where diesel had topped $6 a gallon on average in September.
US Treasury Secretary Scott Bessent said sanctions against Russia do not prevent a deal to supply Russian diesel fuel to US and international markets.
He said members of Congress who argue that existing law or a proposed bill bars the deal are mistaken.
US President Donald Trump and Russian President Vladimir Putin agreed on the diesel supply arrangement on October 9.
Three Democratic senators said the arrangement conflicts with the interests of Ukraine, European allies and US national security.
An initial shipment is about 2.25 million barrels, compared with US daily diesel consumption of about 3.8 million barrels.
- Who
- US Treasury Secretary Scott Bessent said the sanctions do not block the deal. The arrangement was agreed by Donald Trump and Vladimir Putin.
- What
- A deal to supply Russian diesel fuel to international and US markets.
- When
- Trump and Putin agreed to the deal on October 9. Bessent spoke about it in an interview reported on October 11.
- Where
- The fuel is intended for international and US markets.
- Why
- Not stated.
Scott Bessent
Chuck Schumer, Elizabeth Warren and Jeanne Shaheen
Legality
Scott Bessent
Bessent said sanctions and existing or proposed laws do not prevent the deal.
Chuck Schumer, Elizabeth Warren and Jeanne Shaheen
The senators said the arrangement conflicts with US national security interests.
Impact
Scott Bessent
Bessent defended the deal as permissible under the law.
Chuck Schumer, Elizabeth Warren and Jeanne Shaheen
The senators said it runs counter to the interests of Ukraine and European allies.
Any member of Congress who claims that any previous law or the current bill by Lindsey Graham prohibits us from doing this is mistaken.
Trump signed a sanctions law targeting Russia and Iran that provides for possible tariffs of up to 100% on countries buying Russian oil and gas.
Trump and Putin agreed on supplies of Russian diesel fuel to international and US markets.
Bessent said in a Fox News interview that sanctions do not prevent the deal.
- Initial shipment
- About 2.25 million barrels
- US daily diesel consumption
- About 3.8 million barrels
- Sanctions law signed
- September 18
- Deal agreed
- October 9
- Diesel price in the US in September
- Average reached $6.0556 per gallon, according to Bloomberg
Sources
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