US President Donald Trump said that Russian President Vladimir Putin has agreed to supply diesel to the US and global markets in an effort to lower fuel prices, and his administration temporarily lifted sanctions on Russian fuel, Reuters reports.
Reports published this week indicate that discussions between Washington and Moscow over ending the war in Ukraine have expanded to include a proposed multibillion-dollar transaction involving assets owned by Russian energy company Lukoil. However, the reported negotiations have not been confirmed as a completed $4.8 billion deal. Both governments would need to approve the proposed transaction, according to Reuters, citing a report by The New York Times.
The proposed arrangement reportedly involves oil fields, refineries and fuel stations operated by Lukoil across international markets. The group pursuing the transaction is said to include US investor Todd Boehly, Middle Eastern investment groups and a US government entity.
Putin reportedly raised the proposal during a September 5 meeting with US envoys Steve Witkoff and Jared Kushner in Moscow. The Russian president was said to view a potential agreement as a way to demonstrate that commercial relations between Russia and the United States could continue despite the war in Ukraine and Western sanctions.
The Kremlin declined to comment directly on the reported transaction on October 5, although spokesman Dmitry Peskov confirmed that energy cooperation had featured in discussions between Russian and American negotiators.
Substantial quantities of diesel to the US
On Friday, Trump announced that Russia would supply substantial quantities of diesel to the United States, marking a significant shift in Washington’s approach to Russian energy imports.
According to the Associated Press, the proposed shipments include an initial delivery of more than 300,000 tonnes, followed by additional quantities in November and subsequent months. The White House has not provided full details about payment arrangements or the precise timing of deliveries.
The announcement comes amid elevated fuel prices and growing pressure on the administration to address energy costs. Trump has argued that additional supplies could help reduce prices for American farmers, truckers and other fuel-dependent industries.
The decision has nevertheless attracted criticism from Ukrainian President Volodymyr Zelenskyy and Democratic lawmakers, who argue that renewed energy trade could provide Moscow with additional revenue while Russia’s war against Ukraine continues.
The policy shift also raises questions about the relationship between energy negotiations and Washington’s sanctions regime. The United States imposed restrictions on Russian oil imports following Russia’s full-scale invasion of Ukraine in 2022. The Trump administration’s latest move has therefore prompted debate over how commercial cooperation might affect broader diplomatic and security objectives.
Energy analysts have also cautioned that the diesel agreement may have a limited effect on American fuel prices. Additional Russian supplies could redirect existing shipments from other markets rather than substantially increase the amount of fuel available worldwide.
For now, the reported multibillion-dollar oil transaction remains distinct from the announced diesel arrangement. Its final value, ownership structure and regulatory status have not been fully established publicly.
Any completed agreement would represent a notable development in US–Russia commercial relations, but its wider implications would depend on the final terms, the treatment of sanctions and whether economic cooperation contributes to progress in negotiations over Ukraine.
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