Trump says Putin will release diesel to global market as US eases sanctions

President Donald Trump said on his social platform that Russian President Vladimir Putin would "immediately" make hundreds of thousands of tons of diesel fuel available on the global market, a move intended to lower diesel prices. The Treasury Department confirmed that the Office of Foreign Assets Control issued a temporary general license permitting the sale, delivery, offloading or importation of Russian diesel through April 7, 2027, including shipments to the United States.

The decision comes amid soaring diesel prices, which have risen nearly 70% since early 2023 and have been further driven up by recent escalations in the Russia-Ukraine conflict. Earlier this year, the administration briefly eased sanctions on Russia in an effort to curb oil price increases, a step that was criticized by European leaders and Ukrainian officials.

Following the announcement, European-traded diesel futures slipped about 4%, though they remain well above levels seen at the start of the year. Brent crude oil prices were largely unchanged, trading near $104 a barrel.