Trump and Putin boost Russian diesel supply

The United States and Russia have approved an agreement to resume injecting Russian diesel into the global markets, following a halt that lasted throughout the year due to damage suffered by Russian refineries from Ukrainian attacks. Moscow will supply 3 million tons of diesel over the upcoming months, leading to a roughly 4.5% decrease in wholesale diesel prices in New York. This measure is anticipated to contribute to a reduction in fuel prices worldwide, although experts warn that the announced quantities may not be sufficient to fully resolve the supply shortage crisis. Meanwhile, Ukraine criticized the decision, viewing it as supporting Russia’s war funding, and highlighted that diesel prices are rising globally due to military conflicts. The Russian refining sector faces difficulties in meeting demand as production continues to be scaled back.

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