Trump Turns on Zelensky, Then Strikes a Deal With Putin for Russian Diesel
On Saturday, Trump said something that… literally nobody expected. That Ukraine needs a new president.
And he didn't stop there. He even blamed Zelensky for record-high diesel prices in the United States.
The thing is, just one day earlier, on Friday, he had struck a deal with Putin to buy Russian diesel. Yes, you read that correctly. The same man who signed a law last month aimed at cutting Russia's oil and gas revenues.
And the big question is this: Could all of this bring down oil prices and inflation?
TRUMP GOES AFTER ZELENSKY
“I suggest they get a new leader who can make a deal. Because this guy could have made many deals, and for some reason, he never makes any,” Trump said.
And he went on. Zelensky, he claimed, wants to create problems for everyone. For farmers. For ranchers. With diesel.
He even said Ukraine had lost 30% of its territory. But let's put that into perspective. Independent estimates put the share of Ukrainian territory under Russian control at around 20%.
And in Ukraine? Fury.
That same Saturday, Russian bombs struck apartment buildings in Zaporizhzhia. At least 20 people were killed, including three children.
“Russia thanked us for lifting sanctions by dropping five bombs on apartment buildings,” Zelensky wrote.
And the most striking part? During those same days, the Ukrainian delegation was in Florida, holding talks with Witkoff and Kushner about ending the war. They knew nothing about the deal.
“I believe our team is simply being used as a smokescreen,” Zelensky said.
Nevertheless, Kyiv is prepared to halt its attacks on Russian oil refineries. But only if Russia does the same to Ukraine's energy infrastructure.
“So, what does Zelensky have to do with diesel, Christos?” you might be wondering.
The truth is that several factors are at play.
First, there's the war in Iran, which began on February 28. Since then, getting oil out of the Middle East has become extremely difficult, driving up the prices of all petroleum products.
Second, Ukraine has been relentlessly attacking Russian oil refineries. The attacks have been so intense that Moscow was forced to ban diesel exports.
And as if that weren't enough, Iran and the Houthis have also attacked refineries in the Middle East.
So yes, Ukrainian attacks are playing a role. But Trump is placing the blame on Ukraine rather than on the war in Iran, which the United States is leading.
And this is where politics comes into play.
The US midterm elections are coming up in November. Republicans are facing tough battles even in conservative strongholds such as Iowa, where farmers are feeling the pain of expensive diesel.
An AP-NORC poll also shows that Americans hold Trump responsible for high prices.
THE DEAL WITH PUTIN
So what did Trump do to solve the problem? He turned to Russia.
Following a phone call with Putin, he announced that Russia would immediately send more than 300,000 tons of diesel to the US and global markets. Another 500,000 tons would follow in November, then 1 million more shortly afterward.
And another 3 million tons, depending on the condition of Russian refineries. That would bring the total to more than 4 million tons.
To make this happen, the US Treasury Department granted a temporary exemption from sanctions on Russian diesel, lasting until April 2027.
Moscow announced a partial lifting of its export ban starting Saturday, covering 500,000 tons. However, it did not specify when those shipments would leave or whether more would follow.
And Trump? He's celebrating.
“With our FULL CONTROL of the Strait of Hormuz and this great announcement on Russian energy, diesel prices for Americans, and for the whole world, will FALL TO RECORD LOWS, AND FAST!”
He added: “I want to thank President Putin.”
And things get even more interesting here.
According to Russian media, Putin also briefed Trump on Tehran's position regarding how the war in Iran could end. No details were provided, however.
And what does Russia get out of the deal?
It is seeking an easing of US sanctions. According to a European diplomat, it may also be hoping to have its frozen assets released.
WILL PRICES ACTUALLY FALL?
On the one hand, if all of this goes ahead, more diesel on the market should mean lower prices. And cheaper diesel could also provide some relief from inflation.
Of course, there's one big catch.
Vladyslav Vlasiuk, Ukraine's sanctions commissioner, did the math. The US consumes 3.5 million tons of diesel per week and produces 4.9 million.
That means 300,000 tons would cover… just 15 hours of US demand. Yes. FIFTEEN HOURS. “Economically pointless,” as he put it.
A European diplomat was even more direct, saying the deal was very unlikely to have any meaningful impact on prices. Its symbolism, however, would matter.
Polish Foreign Minister Sikorski also raised a question: If there are fuel shortages even in Moscow, and Ukraine has struck roughly half of Russia's refining capacity, “Where is the surplus for export supposed to come from?”
And let's not forget the Strait of Hormuz.
Trump talks about having “full control.” Meanwhile, Iran is attacking oil tankers almost daily. And Brent crude? It's at $104.43 a barrel.
Europe, meanwhile, is moving in the opposite direction.
On Monday, the EU is expected to approve its largest sanctions package to date, containing 1,600 listings.
“This is not the time to ease pressure on Russia,” Kallas says. Meanwhile, Democrats in the US are calling the deal “an absolute betrayal.”