A phone call took place today between President Donald Trump and President Vladimir Putin, after which Trump posted an exuberant statement @realDonaldTrump that Russia will be supplying diesel fuel to the U.S. and global markets. Feeling it necessary to emphasize, he added, “This is a very big and important announcement.” He singled out the importance of this for U.S. farmers, ranchers, and truckers, who have been demanding action, and in whose states Trump-associated candidates are behind. In capital letters he exulted that his new deal will mean that diesel prices at home and worldwide, “will be COMING DOWN, IN RECORD NUMBERS [sic], AND FAST!”

There is no reason to trust his figures and timeframes for the volume of diesel exports from Russia, which can await proper analysis. But the Russian authorities verified the call, and immediately after it, the U.S. Treasury Department issued a general license allowing for the “sale, delivery, offloading, or importation, including importation into the United States” of Russian diesel through April 2027. This waiver is required, because Trump’s deal violates Trump’s sanctions on Russia.

The Kremlin issued a measured statement in Putin’s own name, on today’s call:

“During a telephone conversation with U.S. President Donald Trump on October 9, considerable attention was paid to the prospects for resolving the Ukrainian crisis, and the situation surrounding Iran and various aspects of bilateral relations were also touched upon.

“During a discussion of the global energy situation, Russia confirmed its readiness to supply oil and petroleum products to the American and global markets. ‘I am confident this will have a positive impact on the entire global economy’.” [This last is evidently a quote from President Putin, source unclear.—ed.]