US President Donald Trump has announced that Russia will supply more than 4.8 million tons of diesel fuel to American and global markets under an agreement reached with Russian President Vladimir Putin.

Axar.az reports that in a post on Truth Social following a discussion with Putin, Trump said Russia would immediately supply more than 300,000 tons of diesel, followed by 500,000 tons in November and another 1 million tons shortly afterward.

"I have just concluded a highly successful discussion with President Vladimir Putin, of Russia, wherein it was agreed that Russia will immediately supply over 300,000 Tons of Diesel Fuel to the American and Global Marketplace, another 500,000 Tons during the month of November, and 1,000,000 Tons immediately thereafter. Additionally, based on the condition of their Diesel Refineries, Russia will then deliver, within a short period of time, 3,000,000 Tons of Diesel Fuel," Trump wrote.

He predicted that diesel prices in the United States and worldwide would fall rapidly, saying lower fuel costs for American farmers, ranchers and truckers were a top priority.

"Between our TOTAL CONTROL of the Strait of Hormuz, and this great announcement on Russian Energy, Diesel Prices for Americans and, indeed, the World, will be COMING DOWN, IN RECORD NUMBERS, AND FAST! Lower prices for Americans, especially our Great Farmers, Ranchers, and Truckers, is my Greatest Priority," he added.

Trump also reiterated that Iran would not be allowed to obtain a nuclear weapon.