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

Updated on: October 9, 2026 / 6:19 PM EDT / CBS News

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

TL;DR

  • President Trump announced Russia will supply millions of tons of diesel fuel to lower global prices.
  • The Treasury Department will temporarily waive sanctions on Russia's energy sector.
  • Russian President Putin confirmed the agreement and its expected positive impact on the global economy.
  • Discussions between Trump and Putin also included the Ukrainian crisis and Iran.
  • Ukrainian President Zelenskyy condemned the deal as a 'weakness' that would prolong the war.
  • The Trump administration's move reverses recent tight sanctions on Russia.
  • Diesel prices have recently surpassed $6 per gallon, impacting various sectors.
  • The Trump administration previously allowed the use of red-dyed diesel on highways to reduce costs.
  • Trump asserted 'TOTAL CONTROL' over the Strait of Hormuz and linked this to decreasing diesel prices.