
As diesel prices rise and pressure mounts on President Trump and his policies, Donald Trump has called President Putin for help in curbing the increase in diesel fuel costs. Following the phone call Russia has announced a partial lifting of its ban on diesel exports. Theis decision, outlined in a Russian government statement reported by state news agency Tass, is designed to implement the agreements reached between the two leader.
According to the Russian statement, the partial ban takes effect on October 10, allowing for an initial export of 500,000 metric tons of diesel to the global market. Russian oil companies have been instructed to immediately begin contracting with foreign buyers, working in close coordination with the government. Deputy Prime Minister Alexander Novak stressed that the move would not harm domestic Russian consumers, a key condition for any easing of the export restrictions.
The lifting is done on a phased plan:
October: 300,000 tons of diesel (a partial opening).
November: An increase to 500,000 tons.
December: A further rise to 1 million tons.
Many analysts believe that 300,000 or 500,000 tonnes of diesel will not be enough to bring diesel prices down significantly ,and certainly not before the midterm elections, where multiple polls suggest that Trump’s Republican Party could lose the House and possibly even the Senate.