Trump announces deal with Putin to release Russian diesel
Summary
President Donald Trump announced an agreement with Russian President Vladimir Putin to release large amounts of Russian diesel fuel into the global market. This effort aims to lower diesel prices in the United States, which have increased significantly since the conflict with Iran began.Key Facts
- President Trump said Putin agreed to release 300,000 tonnes of diesel immediately.
- An additional 500,000 tonnes will be released in November, followed by another million tonnes later.
- Diesel prices in the US have doubled since the war with Iran started in February.
- The current average price of diesel in the US is $6.28 per gallon, down slightly from a high of $6.53.
- The US Treasury issued a temporary license to allow Russian diesel into the market.
- Kirill Dmitriev, an envoy for Putin, said cooperation on diesel and energy will benefit the world.
- Rising diesel prices have created pressure on Republicans ahead of midterm elections.
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