Russia has partially lifted a ban on diesel exports
What's the story
Russia has announced the partial lifting of its diesel export ban, effective immediately. The decision comes after an agreement between President Vladimir Putin and US President Donald Trump to supply diesel to the US and global markets. Deputy Prime Minister Alexander Novak confirmed that domestic demand could be fully met while maintaining exports at agreed levels.
Agreement
Deal involves immediate release of 300,000 tons of diesel
Trump announced the deal on Friday, saying Putin agreed to "immediately release" diesel to the US and world markets.
He predicted that these new supplies would result in a significant drop in prices.
The deal involves an immediate release of 300,000 tons of diesel, followed by 500,000 tons in November and another million tons afterward.
An additional three million tons will be supplied "within a short period," depending on the condition of Russia's refineries after Ukraine's attacks.
Sanction suspension
US Treasury to suspend sanctions on Russian diesel exports
The US Treasury is said to be suspending sanctions on Russian diesel exports until April 7, 2027.
However, other Russian assets in American banks remain frozen.
The move comes as part of Trump's efforts to lower fuel prices at home amid the political fallout from the Iran war that started in February and pushed global energy prices up.
Criticism
Ukraine's president slams diesel deal
Ukraine's President Volodymyr Zelenskyy has criticized the US-Russia diesel deal. He argued that any easing of sanctions on Russia only plays into Moscow's hands, and would prolong the war between the two countries.