Trump: “Agreement Reached to Supply Russian Diesel” ... U.S. Temporarily Eases Sanctions on Imports

[Financial News] U.S. President Donald Trump said on the 9th (local time) that he had reached an agreement with Russian President Vladimir Putin to supply Russian diesel to the United States and global markets. The U.S. government temporarily authorized transactions involving Russian diesel and its import into the United States, partially easing related sanctions.
President Trump said that, following talks with President Putin, Russia had agreed to supply at least 300,000 metric tons immediately and an additional 500,000 metric tons during November. He said Russia planned to supply 1 million metric tons later, followed by another 3 million, bringing the total volume to 4.8 million metric tons.
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) issued a temporary general license authorizing the sale, delivery, and unloading of Russian diesel, as well as its import into the United States. The authorization is valid until 12:01 a.m. Eastern Time on April 7 next year.
The United States has restricted imports of Russian energy since Russia’s invasion of Ukraine. This measure temporarily eases the application of sanctions to stabilize diesel supplies.
With diesel prices in the United States up about 70% from before the Iran war, some interpret the Trump administration’s move ahead of the November midterm elections as an effort to ease the burden of oil prices and inflation. Some have also raised concerns that easing sanctions to ensure supplies of Russian energy could weaken the U.S. stance of pressure on Russia.
[email protected] Lee Jeong-hwa Reporter