On Sunday, Treasury Secretary Scott Bessent told Fox News that Washington will move forward with the 300,000‑tonne diesel supply pact signed by President Trump with Russia, citing existing legal authority.
The agreement sidesteps the 2018 ban on Russian fossil‑fuel imports, a restriction that Congress has attempted to tighten with the Lindsey Graham bill. Bessent dismissed those efforts, labeling them "wrong."
Trump announced the deal on Friday, claiming that Russia would also deliver an additional 3,000,000 tonnes once it ramps up its refineries. He linked the shipments to a supposed control over the Strait of Hormuz, a claim that has sparked skepticism among maritime analysts.
Senator Lindsey Graham and other Republican lawmakers have voiced concern over the move, arguing that it could undermine U.S. sanctions and compromise national security.
Economists estimate that the influx could cut U.S. diesel prices by up to 10% in the next quarter, potentially saving American consumers an average of $3 per barrel.
The first shipment is slated to arrive in Texas by late October, with the bulk of the 3,000,000‑tonne consignment expected by the end of the year. The U.S. Customs and Border Protection will oversee the imports under the Commerce Department's guidance.