US President Donald Trump has announced that Russia will begin supplying large quantities of diesel fuel to both the United States and global markets following what he described as a "highly successful" discussion with Russian President Vladimir Putin.

According to Trump, Russia will immediately provide more than 3,00,000 tons of diesel fuel. A further 500,000 tons are scheduled for delivery during November, followed by an additional 1 million tons shortly thereafter.

He also stated that Russia could supply a further 3 million tons within a relatively short period, subject to the operating condition of the country's diesel refineries.

In a post on Truth Social, Trump said the agreement formed part of broader efforts to reduce fuel costs for consumers and businesses. He argued that the additional diesel supplies, combined with what he described as US control of the Strait of Hormuz, would drive diesel prices sharply lower in both the domestic and international markets.

Trump stressed that lowering energy costs remains a key objective of his administration, particularly for farmers, ranchers and hauliers, describing the arrangement as a significant development.

He also reiterated his position on Iran, stating that the country would not be permitted to obtain a nuclear weapon.

The announcement comes amid continued disruption in global fuel markets. Recent supply pressures have been linked to the conflict in West Asia and challenges affecting Russia's refining sector, both of which have contributed to tighter diesel availability worldwide.

Russia's Deputy Prime Minister, Alexander Novak, recently stated that the country's diesel market remained balanced. He indicated that Moscow would only consider easing export restrictions if excess production emerged in the domestic market.

Novak noted that Russia had extended its diesel export ban for October while continuing to monitor internal supply conditions. He explained that, although Russia produces substantially more diesel than it consumes domestically, storage limitations prevent the accumulation of excessive inventories.

He warned that an inability to store surplus fuel could force refiners to reduce processing activity, potentially affecting the production of other petroleum products that remain in demand.

The International Energy Agency's September 2026 Oil Market Report highlighted the severity of current market conditions. According to the agency, US diesel prices rose above $200 per barrel in early September, representing a 94 per cent increase compared with levels recorded before the outbreak of the regional conflict.

The report also said that combined net exports of diesel and gasoil from Gulf producers and Russia were 1.6 million barrels per day lower in August than in February. At the same time, observed global oil inventories had fallen by 507 million barrels since the start of the conflict, underscoring the strain on worldwide supply.

The diesel announcement follows broader diplomatic engagement between Moscow and Tehran. Earlier this week, President Vladimir Putin said Russia was prepared to do everything within its capability to assist Iran in addressing the ongoing regional tensions involving the United States and Israel.

During talks in Turkmenistan, Putin and Iranian President Masoud Pezeshkian discussed bilateral relations and developments across the region.

Pezeshkian said Iran would continue negotiations despite previous attacks occurring during periods of engagement with the United States, adding that Tehran would not withdraw from the negotiating process.

ANI