US lawmakers push back on Trump's Russian diesel deal

Brent has climbed more than 75% this year and European diesel futures have more than doubled, with analysts unsure the deal would even lower prices

Trump's proposed deal to bring more Russian diesel onto world markets is running into resistance from US lawmakers, who oppose the arrangement, and from analysts who doubt it would bring fuel prices down even if it goes ahead.

The skepticism echoes reaction in Europe. US envoys had floated restoring Russian gas flows to the continent, an idea European officials met coolly given the EU's plan to end Russian gas imports by 2027 and concerns over the leverage it would hand Moscow. French President Emmanuel Macron has called the broader diesel arrangement unhelpful.

On Sunday, Trump said diesel market strain was being driven by Ukrainian strikes on Russian refineries rather than by Moscow's own supply decisions. The Kremlin has said details of any related energy truce remain unclear, and diesel futures jumped 4.5% even after the swap was first announced, underscoring how unsettled the terms still are.

Crude has been climbing on separate pressures. Oil pushed toward $100 a barrel on Friday amid Middle East supply worries and a Russian refinery outage, a day after jumping to $97.97. Brent is up more than 75% this year and European diesel futures have more than doubled, and lawmaker opposition now adds a domestic political obstacle on top of the doubts already voiced by traders and allies. Whether extra Russian barrels would actually move prices remains an open question, and until it is answered, the gap between policy announcements and physical supply is likely to keep refined product costs elevated no matter how the legal and legislative fight over the deal plays out.