Geopolitics · Research note · 13 Oct 2026
Licensed product, penalized crude: the US license for Russian diesel and what it means for India
On 9 October 2026 the US Treasury issued General License 135, authorizing transactions in diesel of Russian origin until 7 April 2027. A law signed on 18 September directs tariffs of up to 100% on imports from the top buyers of Russian oil or gas within 30 days. India, the largest buyer of Russian crude among its suppliers in September and an exporter of about 620,000 barrels a day of diesel, sits on both sides of that line. This note sets out the dated facts.
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Every number, and where it comes from
The first five figures in the note.
The full table has 12 rows. Each figure is as published on the date shown, with its denominator.
| Figure | What it measures | Source |
|---|---|---|
| 9 Oct 2026 to 7 Apr 2027 | Issue date and expiry (12:01 a.m. EDT) of OFAC General License 135, authorizing the sale, delivery, offloading and importation of diesel fuel of Russian Federation origin. | US Treasury OFAC, 9 Oct 2026 |
| 0.3M, 0.5M, 1M, 3M tons | Russian diesel volumes as announced by President Trump on 9 October: more than 300,000 tons immediately, 500,000 in November, 1 million after, a further 3 million. Announced, not delivered. | Associated Press via OPB, 9 Oct 2026 |
| About 4.8M tons | Sum of the four announced tranches. Author's arithmetic; the first tranche is a floor and the last has no date. | Author's arithmetic on AP figures |
| 500,000 tons | Diesel Russia permitted for export when it partially lifted its export ban, effective 10 October 2026. | Kyiv Independent citing TASS, 10 Oct 2026 |
| $6.28 | US national average price of a gallon of diesel on 9 October 2026, after a record $6.52 on 22 September, per AAA. | Associated Press via OPB, 9 Oct 2026 |
7 more figures in the PDF, each with its source.
Sources
11 primary releases.
- US Treasury, Office of Foreign Assets Control, Russia-related General License 135 (9 Oct 2026)Scope and expiry of the licenseofac.treasury.gov
- Associated Press via OPB, Trump strikes deal with Putin to get diesel in sharp reversal of US policy weeks before midterms (9 Oct 2026)Announced volumes, AAA diesel prices, description of the tariff lawopb.org
- Kyiv Independent, Russia partially lifts ban on diesel exports after Trump-Putin deal (10 Oct 2026)500,000 tons cleared, effective 10 October, citing TASSkyivindependent.com
- Angel One, relaying The Economic Times, India's diesel exports hit 1-year high in September 2026 as shipments to Europe surge (8 Oct 2026)Kpler figures for India's diesel exports by destinationangelone.in
- Business Standard, Russia remains India's top crude supplier in September amid supply squeeze (28 Sep 2026)Kpler figures for India's crude imports by supplier, 1 to 27 Septemberbusiness-standard.com
- Stephenson Harwood, Lindsey O. Graham Sanctioning Russia and Iran Act 2026: restrictive US tariff measures (29 Sep 2026)Signing date, 30-day period, rate up to 100%, waiver certificationstephensonharwood.com
- APAC News Network, Govt cuts diesel export tax, ATF levy (1 Oct 2026)Diesel export duty cut from Rs 20 to Rs 16 per literapacnewsnetwork.com
- Business Today, relaying The Economic Times, India reviews Trump's decision to purchase diesel from Russia: report (12 Oct 2026)India reportedly reviewing; no waiver decision; unnamed sourcesbusinesstoday.in
- ThePrint, What Trump's Russian diesel deal means for US, surging global prices, Indian refiners (12 Oct 2026)Analyst view on competition for Indian diesel; 630,000 b/d varianttheprint.in
- Business Standard, Russia-US diesel supply deal: what it means for India (12 Oct 2026)Analyst views on the waiver case and marginsbusiness-standard.com
- IANS via The Hans India, Graham law doesn't bar Russian diesel buys: Bessent (11 Oct 2026)Treasury Secretary's statement of 11 Octoberthehansindia.com