Oil market

Trump: "I suggest they get a new leader"

US President Donald Trump has launched a scathing attack on Volodymyr Zelenskyy, urging him to stop attacking Russian oil refineries, according to Reuters.

"He’d better stop," he says, adding:

"I suggest they get a new leader who can strike a deal."

On Friday, Trump announced that he had reached an agreement with Russia and Vladimir Putin regarding diesel supplies to the global market.

Harsh criticism of diesel deal: "Birthday gift for Putin"

Both Democrats and Republicans are objecting to the new US agreement concerning Russian diesel, reports The Guardian. Critics argue that the deal is immoral and undermines the package of sanctions and tariffs on importers of Russian oil and gas that Donald Trump signed in September.

"President Trump failed to live up to his promises to lower costs for Americans. Now he is failing to protect the US from its adversaries," says Democrat Chuck Schumer, the Senate Minority Leader.

According to Trump, the agreement entails Russia supplying 300,000 tons of diesel to the US and the global market "immediately." Subsequently, several million additional tons of diesel are to be delivered.

"Lower prices for Americans—especially our amazing farmers, ranchers, and truck drivers—are my top priority," Trump writes on Truth Social following a phone call with Vladimir Putin. Ukrainian President Volodymyr Zelenskyy calls the deal "a birthday present for Putin."

"It is absolutely terrible," he tells Axios.

Analysis: Trump’s "stopgap measure" may be in vain

Donald Trump’s decision to import millions of tons of Russian diesel into the US marks a remarkable about-face, writes the BBC’s Anthony Zurcher in an analysis. Just a few weeks ago, the president signed a law authorizing the US to impose sanctions and tariffs on countries importing Russian oil and gas.

Furthermore, it is unclear whether the deal will succeed in appeasing disgruntled voters and aiding the Republicans in the upcoming midterm elections, according to Zurcher.

"It is not certain that Americans will notice any major immediate difference" regarding fuel prices, he writes.

Analysts consulted by CNN are also skeptical about whether the diesel deal will have a satisfactory impact on energy prices.

"It would just be a temporary stopgap measure, and nothing more," writes Gregory Brew, an analyst at Eurasia Group’s energy, climate, and natural resources practice.