Donald Trump's diesel deal with Vladimir Putin has drawn sharp criticism from members of his own Republican Party, who joined Democrats in calling the arrangement illegal. Seven senators, including four Republicans, urged Trump to "immediately reverse course" on the agreement to purchase millions of tons of diesel from Moscow, describing it as a "financial lifeline" to Putin's regime. Led by Jeanne Shaheen, the senators argued that Congress explicitly banned Russian energy imports in 2022 to prevent American dollars from funding Russia's war against Ukraine.
The deal directly contradicts that law, and Trump made no attempt to consult Congress beforehand, according to Shaheen, Richard Blumenthal, Ron Wyden, Susan Collins, John Curtis, Lisa Murkowski, and Thom Tillis. Trump announced the agreement following a "highly successful discussion" with Putin, touting it as a way to lower fuel prices for Americans, especially farmers, ranchers, and truckers. However, industry analysts doubt the import will significantly impact consumer prices.
Diesel prices have soared since Trump escalated tensions with Iran, disrupting oil exports from the Gulf region. The price hikes and rising inflation have hurt Trump's approval ratings and threaten Republican control of Congress in the November midterm elections. The deal also faced criticism from Fox News host Brian Kilmeade, who called working with Russia "the biggest mistake of his administration" and labeled Putin "the modern Hitler of our generation." Texas Senator John Cornyn, who lost his primary after Trump backed his opponent, echoed Kilmeade's remarks on social media.
Source: Financial Times Markets · Summarized by HeadlinesBriefing