From The Straits Times · · 1m 10s
Trump says Russia to supply diesel to US and global market
Trump announces Russia will supply 300,000+ tonnes of diesel to US before November elections.
In brief
Trump announces Russia will supply 300,000+ tonnes of diesel to US before November elections. Trump says Russia will immediately supply over 300,000 tonnes of diesel to US and global market to lower prices ahead of November elections. Originally reported by The Straits Times.
Trump and Putin discuss diesel
Trump said on Oct 9 he had a highly successful discussion with Putin on diesel supply.
“Trump said Russia will immediately supply more than 300,000 tonnes of diesel to the US and global market”
Russia to supply 300,000+ tonnes of diesel
Russia will immediately supply over 300,000 tonnes of diesel to US and global market.
“Russia will immediately supply more than 300,000 tonnes of diesel to the US and global marketplace”
Diesel prices near record highs
Diesel prices are near record highs ahead of November congressional elections.
“Diesel prices, which can drive inflation, are up 70% since the US-Israeli war with Iran began this year”
Treasury licence for Russian diesel
Treasury issued licence allowing Russian diesel imports until April 7, 2027.
“The Treasury Department issued a general licence on Oct 9 allowing importation of Russian diesel until April 7, 2027”
Trump plans more diesel shipments
Trump said Russia will supply 500,000 tonnes in November and 1,000,000 tonnes immediately after.
“Trump said Russia would supply another 500,000 tonnes in November, and another 1,000,000 tonnes immediately thereafter”
Defence Production Act to boost output
Trump will use Defence Production Act to increase diesel output and bypass local regulations.
“The directive, which they said could take the form of a presidential memo, will push officials to find ways to bypass local and state regulations blocking energy production”
Diesel prices expected to fall
Trump expects gasoline prices to fall to $1.85-$1.95 by November elections.
“Trump said he expected gasoline prices to fall soon to levels around US$1.85 to US$1.95”
The bottom line
Trump says Russia will immediately supply over 300,000 tonnes of diesel to US and global market to lower prices ahead of November elections.
