US President Donald Trump has said Russian President Vladimir Putin agreed to release millions of tonnes of diesel to the United States and global markets to ease rising fuel prices.

Trump said Russia would immediately release 300,000 tonnes, followed by 500,000 tonnes in November and additional supplies. The US Treasury subsequently issued a temporary licence allowing Russian diesel imports until April 7, 2027, while other sanctions remain in place.

Putin confirmed Russia’s readiness to supply oil and petroleum products but did not specify quantities.

The move comes as US diesel prices have surged amid the war with Iran, with the average price standing at $6.28 per gallon, according to the American Automobile Association.

However, Ukrainian President Volodymyr Zelensky condemned the decision, warning that easing sanctions would help finance Russia’s war against Ukraine. Russia’s diesel production has reportedly fallen by nearly 30 per cent following Ukrainian drone strikes on its oil refineries, according to the International Energy Agency.