Commerce Wire , October 11, 2026
Russian President Vladimir Putin and US President Donald Trump held a telephone conversation lasting approximately one and a half hours on the evening of October 9, focusing on the prospects for resolving the Ukraine crisis, the situation surrounding Iran, and bilateral relations. The two sides confirmed that Russia would supply oil and petroleum products to the United States and global markets, and reached a specific agreement on diesel exports. The United States simultaneously announced a relaxation of sanctions on Russian diesel trade, drawing strong dissatisfaction from Ukraine.
Key Points of the Call and Energy Agreement
According to Russian presidential aide Yuri Ushakov, the conversation was substantive and friendly, with neither leader willing to hang up first. During the call, Putin reiterated that the goals of the special military operation remain unchanged and pointed out that Ukraine’s large-scale drone attacks on Moscow and other cities during Russia’s State Duma elections had undermined the possibility of an immediate resumption of negotiations. Russia stated that it would assess when talks, including potential trilateral negotiations involving the US, Russia, and Ukraine, could resume.
Energy cooperation emerged as the most concrete outcome of the call. Trump subsequently announced on his social media platform that Russia had agreed to immediately supply more than 300,000 tons of diesel to the US and global markets, followed by an additional 500,000 tons in November and another 1 million tons thereafter. Depending on the condition of its refineries, Russia may supply up to a further 3 million tons in the short term, bringing the potential total to approximately 4.8 million tons.
On the same day, the US Treasury Department’s Office of Foreign Assets Control (OFAC) issued a temporary general license authorizing the sale, delivery, offloading, and importation of Russian-origin diesel, valid until April 7, 2027. Russian Deputy Prime Minister Alexander Novak confirmed that Russia would lift its diesel export restrictions ahead of schedule and ensure adequate domestic supply. In a statement, Putin affirmed Russia’s readiness to supply oil and petroleum products to the American and global markets, expressing confidence that the move would have a positive impact on the global economy.
Trump described the arrangement as a “big deal,” predicting that diesel prices would fall sharply and rapidly in record numbers, with priority benefits for American farmers, ranchers, and truckers. Following the announcement, US diesel futures prices declined temporarily.
Reactions from Ukraine and Europe
Ukrainian President Volodymyr Zelenskyy expressed strong dissatisfaction with the agreement, calling it a “weak decision by a strong partner” and saying he felt “betrayed.” He warned that it would provide Moscow with funds for the war and prolong the conflict. Some Western analysts view the deal as a major adjustment in US energy sanctions policy toward Russia, though they note that the actual supply volumes are relatively limited and the long-term impact on global oil prices remains to be seen.
On the same day, representatives from the United States, Ukraine, and Europe (including the United Kingdom, France, Germany, the European Commission, and NATO) held talks in Miami, Florida. US presidential envoy Steve Witkoff described the discussions as “constructive,” covering near-term measures to de-escalate the situation before winter, security guarantees, Ukraine’s postwar reconstruction, and related issues concerning its potential EU membership.
Both the US and Russia agreed to maintain high-level contacts and continue cooperation between relevant agencies. Trump presented Putin with certain proposals aimed at de-escalating the situation in Ukraine, which Putin received with understanding. However, the Kremlin indicated that negotiations would not resume immediately. The peace process regarding Ukraine remains stalled, with energy cooperation and diplomatic efforts proceeding in parallel, and further developments are being closely watched.
(Compiled from reports by Xinhua News Agency, Kremlin statements, President Trump’s social media posts, and multiple international media outlets)