Trump announces Russia will release millions of tons of diesel to help with skyrocketing costs

Updated on: October 9, 2026 / 3:38 PM EDT / CBS News

President Trump announced Russia has agreed to provide the world with millions of tons of diesel fuel over the next several months in a bid to decrease skyrocketing global prices.

In a Truth Social post, the president said he had just gotten off the phone with Russian President Vladimir Putin, who had agreed to release 300,000 tons of diesel immediately. He said another 500,000 tons of diesel would be released in November, followed by 1 million tons in December.

"Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel," Mr. Trump continued.

The Treasury Department also announced Friday that it would temporarily waive sanctions on Russia's energy sector to "allow the supply of Russian diesel to the global market."

The moves by the Trump administration mark a reversal of the tight sanctions that have constrained Russia's economy since Putin launched a full-scale invasion of Ukraine in 2022. Last month, Mr. Trump signed a bill designed to make it even harder for Russia to profit off oil and gas exports by imposing steep tariffs on…

Original source: https://www.cbsnews.com/entertainment/