Explainer: What is the diesel deal between Putin and Trump?

Oct. 12 marked a fresh push by President Donald Trump to lower U.S. diesel prices, pairing a lifted sanctions move on Russian diesel exports with an announced energy ceasefire between Russia and Ukraine. U.S. diesel prices fell 0.5% on Monday after Trump’s announcements, with the stakes rising ahead of the Nov. 3 midterm elections as truckers and farmers feel the pinch. Trump said Russia would deliver more than 300,000 metric tons of diesel immediately, plus additional shipments in November and afterward—though it remains unclear how tankers and refineries will be able to support the flow given ongoing Ukrainian strikes.