Trump and Putin sign diesel supply pact as U.S. prices stay record high

The deal, announced on Oct. 10, adds up to 4.8 million tons of Russian diesel but is unlikely to curb soaring U.S. diesel prices, according to energy analysts.

By Felo News Desk · Published Sat, 10 Oct 2026 21:46:02 GMT

President Donald Trump announced on Oct. 10 that he had reached a deal with Russian President Vladimir Putin to supply the United States with more than 300,000 tons of diesel immediately, followed by 500,000 tons in November and a further 4 million tons later, according to both the Independent and Fortune.

What happened

The agreement reverses the U.S. policy that has barred Russian oil imports since the start of Russia’s war in Ukraine. The first shipment of 300,000 tons is slated for arrival within weeks, with the November tranche and the larger later shipment scheduled thereafter. The deal was disclosed in a Friday briefing by the White House.

What the reports add

The Independent noted that diesel prices in the United States hit a record $6.53 per gallon on Sept. 22, according to the American Automobile Association, and were averaging $6.28 per gallon on the day of the announcement, up from $3.68 a year earlier. Fortune repeated those figures and added that diesel prices have also set records in Europe.

What was said

The Independent quoted unnamed energy‑policy experts who said the pact is “unlikely to make a dent in painfully high prices at the pump.” Fortune reported that experts described the move as “shuffling deck chairs on the Titanic.” Both outlets said the experts emphasized that diesel’s role in freight and delivery networks means price pressures will continue to affect a broad range of consumer goods.

How it came about

Earlier in October, the G7 announced a release of 100 million barrels of oil and diesel from strategic reserves, a move that President Trump had urged after threatening a U.S. diesel export ban (see Felo coverage). The same week, the UK considered tapping emergency diesel stocks as prices topped £2 per litre (see Felo coverage). Trump’s focus on diesel supplies follows his September appeal for an end to the Ukraine war, which he linked to a spike in U.S. diesel prices (see Felo coverage). The newly announced Russian deal arrived hours before a Ukrainian drone strike on a Russian oil‑loading terminal, an event that the Ukrainian president called a betrayal of the pact (see Felo coverage).

Key facts

Trump and Putin agreed to supply the U.S. with over 300,000 tons of diesel immediately, 500,000 tons in November, and 4 million tons later (independent.co.uk)
U.S. diesel price hit a record $6.53 per gallon on Sept. 22, averaging $6.28 per gallon on Oct. 10 (fortune.com)
Energy experts say the deal is unlikely to lower U.S. diesel prices (independent.co.uk)