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US President Donald Trump’s deal with Russia to supply diesel to US and global markets is unlikely to meaningfully lower diesel prices, market watchers and analysts said, noting that the promised volumes are too small to ease a global supply squeeze. Diesel prices have shot to record highs during the US-Israeli war on Iran. Critics said lifting sanctions on Russian diesel could help Moscow fund further attacks on Ukraine.
Why it matters: The arrangement shows how energy security and sanctions relief can conflict, as lifting restrictions on Russian diesel may undermine efforts to curb Moscow’s revenues while offering limited relief to consumers.