REAL ESTATE

Treasury issues license allowing imports of Russian diesel; White House says it will lower U.S. diesel prices

On Oct. 9, 2026, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued General License 135 authorizing transactions tied to sale and importation of diesel of Russian origin. The White House told CBS News the move should add supply and lower costs, while analysts quoted by CBS cautioned the volumes may be limited.

BUSINESSINDY BRIEFBy BusinessIndy Editorial StaffCommentsPublished October 12, 2026 at 3:48 PM EDTLiving story · 2 sources

AI-generated illustration of the topic: Treasury issues license allowing imports of Russian diesel; White House says it will lower U.S. diesel prices — AI illustration · Not a photograph of the reported event.

On Oct. 9, 2026, OFAC published General License 135 authorizing transactions related to sale, delivery, offloading and importation of diesel fuel of Russian Federation origin (U.S. Treasury). A White House official told CBS News the license allows Russia to "immediately" begin selling diesel to the United States and global markets and said the plan will lower costs for farmers, truckers and other workers (CBS News).

CBS News reported President Trump posted on Truth Social that Russia would supply more than 300,000 tons of diesel immediately, an additional 500,000 tons in November and 1 million tons "immediately thereafter." Analysts quoted by CBS said world diesel consumption is roughly 3.5–4 million metric tons per day and called the announced incremental Russian supply "isn't massive" and possibly within current Russian export levels; CBS also reported U.S. national diesel averages of $6.53/gal on Sept. 22 and $6.27/gal the Monday before publication (CBS News).

WHY IT MATTERS

What changed: The Treasury's Oct. 9, 2026 General License 135 is a legal authorization that allows certain transactions tied to diesel of Russian origin. In practical terms, a license like this removes U.S. legal barriers so Russian-origin diesel can be bought, moved and imported under the conditions OFAC lays out.

Who this touches: Diesel is the fuel used by long-haul trucks, farm equipment, construction machinery and many delivery fleets. If additional physical diesel reaches global markets and is imported to the U.S., that larger supply could put downward pressure on wholesale and retail diesel prices—benefiting truckers, farmers and businesses with large fuel needs. The White House told CBS News it expects the license to lower costs for those groups.

Why the effect may be limited: Independent analysts cited by CBS note world diesel demand is about 3.5–4 million metric tons per day, so the announced Russian shipments — hundreds of thousands of tons spread over months — are small by comparison. CBS also reported commentary that the export volumes Russia committed for October and November may fall within its existing flows, meaning they might not represent new incremental supply.

What to watch next: whether the pledged Russian shipments actually load and arrive in markets, how much enters the U.S. specifically, and whether wholesale and retail diesel prices move. Official OFAC guidance and verified shipment records will be the clearest evidence that new physical supply is reaching buyers.

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Linked source published October 12, 2026 at 3:40 PM EDT. Prepared with AI assistance from the linked research; material claims remain attributed in the article.

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