President Donald Trump has a plan to bring down diesel prices before the midterm elections: buy more of it from Russia. The announcement, made Friday, has landed about as well as you might expect.

Millions of Tons, One Phone Call

Trump said Russia would supply millions of tons of diesel to U.S. and global markets following a phone call with Russian President Vladimir Putin, as American fuel prices remain elevated weeks before voters head to the polls.

In a Truth Social post, Trump laid out the delivery schedule: more than 300,000 tons immediately, another 500,000 tons in November and 1 million tons afterward.

He said an additional 3 million tons would depend on the condition of Russian diesel refineries.

Trump argued that the supplies, along with U.S. control of the Strait of Hormuz, would drive diesel prices down rapidly.

Schumer: A 'Deal With the Devil'

Senate Minority Leader Chuck Schumer (D-N.Y.) accused Trump of putting his political fortunes ahead of national interests.

On X, Schumer described the arrangement as a "deal with the devil," arguing that it would benefit Putin, whom he accused of helping Iran target American troops in the Middle East and waging an illegal war against Ukraine.

"Trump is doing a deal with the devil to try to help his flailing political fortunes from the shockingly high diesel prices caused by his own reckless, illegal war in the Middle East," Schumer wrote. "This filthy deal will only aid and abet the same Putin who is helping the Iranians to target..."

Sen. Andy Kim (D-N.J.) also criticized the announcement, calling it a "desperate and short-sighted move."

Kim blamed Trump's war with Iran for contributing to the crisis and urged the president to end the conflict rather than send money to Russia.

"What a desperate and short sighted move. Trump ran on America First but has no idea how to actually deliver for the American people," Kim wrote. "We wouldn't be in this mess without his wasteful war with Iran. We need to build opportunity for Americans with our foreign policy, not Putin."

Schiff and Kasparov Ask: What Changed?

Economist Peter Schiff questioned the apparent contradiction between the deal and Trump's recent approach to Russian energy.

Schiff noted that Trump had signed legislation targeting major buyers of Russian oil and gas with tariffs of up to 100% just three weeks earlier, ostensibly to cut funding for Putin's war.

"Today Trump announced a deal to supply Russian diesel to U.S. and global markets. Just three weeks ago, he signed a law targeting major buyers of Russian oil and gas with tariffs of up to 100%. The goal was to cut off funding for Putin's war against Ukraine. So what changed?" Schiff wrote.

Russian chess grandmaster and political activist Garry Kasparov argued that additional Russian energy revenue could support Moscow's military campaign, prolong the war and worsen European and global security.

"Keep in mind, nothing in this Putin-scripted fantasy helps US interests or the American consumer," he wrote. "It hurts both by funding Putin's military and prolonging the war, killing more innocent Ukrainians and worsening the European and global security situation."

Markets Shrug, Barely

Late in the day, WTI crude oil rose 0.19% to $91.66 per barrel, while Brent crude gained 0.25% to $104.54 per barrel. Natural gas futures rose 1.14% to $3.204 per MMBtu.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.