Russia announced on Saturday that it had lifted some restrictions on diesel exports with immediate effect, following an agreement between Russian President Vladimir Putin and US President Donald Trump to allow Russian diesel supplies to reach US and international markets.

Russian Deputy Prime Minister Alexander Novak said in a statement that domestic production was sufficient to meet the country's needs in full while maintaining agreed export volumes to global markets.

The announcement coincided with a decision by the US Department of Energy to authorise an emergency exchange of up to four million barrels of crude oil from the Strategic Petroleum Reserve (SPR) to address supply disruptions caused by Hurricane Isaias.

Trump had announced yesterday (October 9) that Russia had agreed to supply millions of tonnes of diesel to the US and global markets following a telephone conversation with Putin, in a move aimed at easing rising energy prices.

In a post on his Truth Social platform, Trump said Russia would immediately supply more than 300,000 tonnes of diesel, followed by another 500,000 tonnes in November and one million tonnes shortly afterwards.

The US Treasury Department issued a temporary licence authorising transactions involving Russian diesel, including imports into the US until April 7, 2027, easing restrictions imposed on Russia's energy sector over the war in Ukraine.

Moscow could deliver a further three million tonnes within a short period, depending on the condition of its refineries, it added.

US Energy Secretary Chris Wright said the department was moving swiftly to support refinery operations, minimise fuel supply disruptions and ensure American households and businesses continued to have access to affordable, reliable and secure energy.

Putin expressed understanding of some US proposals aimed at de-escalating the conflict in Ukraine during a telephone conversation with Trump on Friday evening, the Kremlin said on Saturday.