Washington. US President Donald Trump has announced a major policy change and said that America will buy diesel from Russia on a large scale. This step has been taken at a time when mid-term elections are round the corner and the administration is under immense pressure due to rising crude oil prices. In addition, the closure of the Strait of Hormuz has also severely disrupted global oil supplies.
Big deal for diesel supply with Russia
Announcing the deal through a post on social media platform Truth Social, Trump said that he had a successful discussion with Russian President Vladimir Putin. Under this agreement:
Russia will immediately supply more than 3,00,000 tons of diesel fuel to the US and global markets.
Additional 5,00,000 tonnes of diesel will be supplied in the month of November.
Immediately after this, 10,00,000 tonnes more will be supplied.
Subsequently, Russia will provide 30,00,000 tonnes more diesel fuel in a short time depending on the status of its refineries.
Strategy to control inflation between elections
Due to the Iran war and the sanctions imposed on the Strait of Hormuz, fuel prices are skyrocketing in the global market, due to which inflation has increased in America as well. In America, 60 to 70 percent of goods are transported through trucks, due to which the increased diesel prices are directly impacting truck drivers and owners.
In view of the midterm elections to be held in October-November, it is very important for the Trump administration to get the support of truck drivers and farmers. Due to the time taken by purchasing crude oil and refining it, the administration has chosen this quick route of supplying finished diesel directly. Trump believes that after this energy agreement and control over Hormuz, there will be a huge fall in fuel prices in America and around the world.
