[UPDATE] 12 senators, six from each party, ask Trump to rescind his deal lifting U.S. sanctions on Russian diesel
U.S. diesel futures rose 5% by midday Tuesday, Oct. 13, to their highest in weeks, as doubts mounted that the deal would bring prices down, per NBC News.
Twelve senators sent Donald Trump a letter on Tuesday, Oct. 13, demanding he rescind the deal that lifted U.S. sanctions on Russian diesel. They called it "a gift to our adversary and a betrayal of our Allies." The signers. Richard Blumenthal (Sen-D Connecticut) led the letter. The six Republicans are Thom Tillis (Sen-R North Carolina), Susan Collins (Sen-R Maine), Lisa Murkowski (Sen-R Alaska), Mitch McConnell (Sen-R Kentucky), John Cornyn (Sen-R Texas) and Alan Armstrong (Sen-R Oklahoma). The law. Tillis and Lloyd Doggett (Rep-D Texas) say the waiver breaks the 2022 Ending Importation of Russian Oil Act, the law that banned Russian oil imports after the invasion of Ukraine. Doggett sponsored it and says Trump is "directly violating that law." Trump's answer. He now says: "It's not a deal with me. It's a deal for the world. That's not a USA deal." (TS: Treasury's own license lets Russian diesel be imported into the U.S. until April 7, 2027.) The supply. Trump promised 300,000 tons of Russian diesel at once and 500,000 tons in November. Analysts put the best case at less than two weeks of U.S. diesel demand.
PREVIOUSLY
- Sept. 15 — Trump announced a Russia-Ukraine energy truce; Kyiv called it conditional.
- Sept. 16–19 — Congress passed and Trump signed a law allowing steep tariffs on countries that buy Russian oil; the House vote was 262-159.
- Sept. 21–23 — Trump pressed Ukraine to stop hitting Russian refineries, citing diesel prices; Zelensky proposed a mutual halt on energy strikes.
- Oct. 4 — Putin added a sale of Lukoil's foreign oil assets to peace talks; buyers include business partners of envoys Witkoff and Kushner.
- Oct. 10 — Treasury lifted sanctions on Russian diesel until April 7, 2027, after Trump said Russia would send diesel to the U.S.
- Oct. 11 — Russian glide bombs killed 20 in Zaporizhzhia; Putin told Trump talks would not resume soon.
- Oct. 12 — Four Republican senators joined Democrats demanding a reversal; Thomas Massie (Rep-R Kentucky) backed the deal. AAA put diesel at $6.27 a gallon, against $3.67 a year earlier.
- ClearView Energy's Kevin Book estimates 5 to 20 cents a gallon of pump relief by the end of 2026, per Bloomberg.