Trump says Russia will release diesel to world markets after a call with Putin. Kyiv calls it 'an investment in war', and Brent still settles above $104
On 9 October Mr Trump said he had held a successful call with Mr Putin and that Russia would release diesel onto U.S. and global markets. His Truth Social post named 300,000 tonnes immediately, 500,000 in November, 1 million after that and 3 million 'soon', depending on Russia's refineries. Russia's deputy prime minister, Alexander Novak, said diesel export restrictions were being lifted at once and put the 1 million tonne tranche in December. The Treasury's OFAC issued a temporary general licence for Russian-origin diesel, valid until 7 April 2027. The Kremlin said the 90-minute call focused on Ukraine, touched on Iran, and that Mr Putin would consider when to restart peace talks. Mr Zelenskiy called the move an investment in war, and Axios said Ukraine's government was surprised. Brent settled at $104.72, up 0.42%, and WTI at $91.63, up 0.15%. The FTSE 100 closed up 1.06% at 10,552.05, and the S&P 500 rose 0.59% to 7,811.54.
Diesel moves goods, farms and freight, so its price feeds into almost everything. The deal is a sanctions easing as well as an energy measure: it comes weeks before the U.S. midterms and while Washington is trying to broker a Ukraine settlement.
Forecourt prices follow wholesale diesel with a lag, and a few hundred thousand tonnes will not change the market on its own. Higher energy costs are what keep the Bank of England leaning towards rate rises, which in turn set mortgage and savings rates.
More supply could ease a price spike that is hurting households and firms, and keeping Russia talking may help diplomacy.
Allowing Moscow to sell fuel rewards it while its attacks on Ukraine continue, and Kyiv was not consulted in advance.
Treat the headline volumes with care. The immediate 300,000 tonnes is small against global demand and the rest depends on refineries. Watch whether Brent stays above $100, whether Congress or European allies push back on the licence, and whether Russia sets a date to restart peace talks.
DailyDrop U.K. edition No. 6 · Morning · SAT., OCT. 10, 2026