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<\/p>\n\n When Russia invaded Ukraine in February 2022, the response from the United States and its allies was swift and brutal. The West launched an economic onslaught against the Kremlin, banning Russian imports, cutting Russia off from its payment systems and imposing a price cap on Russian oil sales to deplete the Kremlin\u2019s coffers.\n <\/p>\n
\n Fast-forward to 2026, and the Malta-flagged Agioi Fanendes is carrying 300,000 barrels of Russian diesel toward the United States, offering a striking image of Washington\u2019s about-face on Moscow.\n <\/p>\n
\n US President Donald Trump\u2019s willingness to provide sanctions relief to Russia and cut business deals with President Vladimir Putin while war rages in Ukraine is chipping away at Russia\u2019s status as an international pariah. It also undermines years-long efforts by the United States and its allies to punish and isolate the Russian economy in response to Putin\u2019s full-scale invasion of its neighbor.\n <\/p>\n
\n In early 2022, \u201cthere was a very strong notion that we didn\u2019t want a drop of Russian oil on US shores, not just from the US government but also industry,\u201d said Ben Harris, who was closely involved in efforts to sanction Russia at the time as assistant Treasury Secretary.\n <\/p>\n
\n Trump\u2019s actions signal that \u201che really sees no value in sanctioning Russia and he doesn\u2019t see sanctions as a way to end the (Ukraine) war,\u201d added Harris, now vice president and director of economic studies at the Brookings Institution.\n <\/p>\n
\n \u201cIt\u2019s really unclear if he even sees Russian aggression as a problem,\u201d he told CNN, describing Trump\u2019s recent moves as \u201cincredibly disheartening.\u201d\n <\/p>\n
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\n Trump\u2019s controversial decision to buy diesel from Russia came weeks ahead of the midterm elections, when soaring fuel prices were a key pain point for voters<\/a>. Diesel prices have surged above $6 a gallon for the first time ever, from $3.76 a gallon nationally before the Iran war. Average gasoline prices are above $4 a gallon, up from $3 a year ago, according to AAA data.\n <\/p>\n \n Trump\u2019s diesel purchases will do nothing to dent prices, however. The barrels on the Agioi Fanendes amount to roughly 10% of what the US transportation sector alone consumes each day, according to the Energy Information Administration. Even if all of Russia\u2019s 2.2 million barrels were imported, in line with Trump\u2019s plan, that would not be enough to supply America\u2019s needs even for a single day.\n <\/p>\n \n Even so, the deal could be the first of several transactions between the United States and Russia, in what would amount to a stunning break from the past four years.\n <\/p>\n \n These potential business deals \u2014 which reportedly range from Russia-US data center projects<\/a> to joint liquified natural gas ventures in the Arctic<\/a> \u2014 come despite the absence of a ceasefire in Ukraine and with no apparent conditions that would force an end to Russian aggression.\n <\/p>\n \n The diesel deal might be the \u201cfirst inkling\u201d of this new approach, \u201cwhich made people quite nervous because of what it might portend in the near future,\u201d said Thomas Wright, a senior fellow at the Brookings Institution, a Washington, DC-based think tank.\n <\/p>\n \n A deal on Russian oil major Lukoil\u2019s international assets, led by a consortium that includes American investors, is expected within weeks, Reuters reported<\/a> on Tuesday.\n <\/p>\n \n It\u2019s unclear how or whether the Democrat-controlled Congress could affect any current or future deals with Russia. But Trump still has veto power, which he could use to assert his authority on foreign policy.\n <\/p>\n \n Before the midterms, the Trump administration and the Kremlin had discussed the possible lifting of US sanctions on Russia\u2019s multibillion-dollar sovereign wealth fund<\/a>. The Biden administration first imposed the sanctions in the wake of Russia\u2019s full-scale invasion of Ukraine, calling it a \u201cknown slush fund\u201d for Putin and his inner circle.\n <\/p>\n \n A US official said last week that the administration is undertaking its \u201cnormal process\u201d in assessing sanctions relief for the fund, \u201cin an effort to improve U.S.-Russia relations and help end the war.\u201d\n <\/p>\n