Trump Is an Easy Mark for Putin

By David Frum

Saturday, October 10, 2026

 

Late last night, President Trump announced a “massive” deal to buy diesel fuel from Russia. For the American truckers and farmers Trump claims to be serving, the deal means little or nothing. Trump may not know or may not care that his latest gambit will not reduce diesel prices. His poll numbers are plunging to Herbert Hoover levels. He needs a last-minute electioneering gimmick.

 

But while the deal will not benefit American consumers, it has immense consequences for others. For Vladimir Putin’s Russia, the deal is a potential lifesaver. For war-ravaged Ukraine, it is the most outrageous and heartless Trump betrayal to date. For Trump’s entourage, the deal promises corruption opportunities on a multibillion-dollar scale. And for people trying to understand the Trump presidency, the deal is further proof of the accusation that Nancy Pelosi flung in Trump’s face in 2019: “With you, all roads lead to Putin.”

 

The United States is a diesel superpower. It is one of the world’s largest producers and exporters of diesel fuel. U.S. refineries produce about 5.2 million barrels of diesel a day. Americans consume about 3.7 million barrels a day. The surplus is sold abroad: In recent months exports have run above 1.5 million barrels a day.

 

The United States imports some diesel fuel from Canada, about 154,000 barrels a day, owing to the peculiarities of pipeline and shipping networks: It’s cheaper to supply New England from the Canadian refinery in New Brunswick than from U.S. refineries along the Gulf Coast. By comparison, Trump’s Russia deal is for 2.25 million barrels: the equivalent of about 16 hours’ worth of U.S. consumption, 10 hours’ worth of U.S. production, or 14 days’ worth of Canadian imports.

 

Unfortunately for U.S. diesel consumers, the price of diesel fuel is set by global markets, not North American ones. Trump’s Iran war has disrupted fuel supplies from the Middle East, including diesel supplies. Before the war, Europe imported more than half a million barrels of diesel a day from the Persian Gulf. The world’s second-biggest diesel exporter used to be Russia, which shipped about 817,000 barrels a day in 2025. When the Iran war raised energy prices, Russia was positioned to profit.

 

David Frum: Why Trump didn’t predict the gas-price spike

 

The United States in the past tried to help Ukraine by sanctioning Russian energy exports. Trump sometimes pretended to support this policy. In September 2025, for example, Trump proclaimed a tariff on India, ostensibly to punish India for buying Russian oil—but then lifted it in February.

 

So the Ukrainians took matters into their own hands. As Russia has intensified its horrific drone and missile attacks on Ukrainian civilians, Ukraine has struck back with a devastating campaign against Russian energy infrastructure, including diesel. By late summer 2026, the Ukrainians estimated that they had shut down 43 percent of Russian refinery capacity. According to Ukrainian reports, Russian production of oil of all kinds plunged from 5.6 million barrels a day before the Iran war to 4.1 million barrels by late summer 2026. Russia imposed a ban on diesel exports in July. That ban has been extended into October.

 

Friends of Ukraine hailed the attacks on Russian energy infrastructure as a war-changing success. Trump saw a threat to Republican hopes in the midterms. Curbs on Russian fuel exports helped push the price of diesel fuel in the U.S. above $5 a gallon in July, then higher than $6 a gallon in September.

 

***

 

Since Trump’s return to power in 2025, the Putin regime has dangled lucrative deals in front of the president’s entourage.

 

The Wall Street Journal reported in November 2025 about secret conversations in Miami the previous month between the head of Russia’s sovereign wealth fund, Kirill Dmitriev, and Trump’s negotiators, Steve Witkoff and Jared Kushner:

 

“For the Kremlin, the Miami talks were the culmination of a strategy, hatched before Trump’s inauguration, to bypass the traditional U.S. national security apparatus and convince the administration to view Russia not as a military threat but as a land of bountiful opportunity, according to Western security officials. By dangling multibillion-dollar rare-earth and energy deals, Moscow could reshape the economic map of Europe—while driving a wedge between America and its traditional allies.”

 

The report noted that Dmitriev “found receptive partners in Witkoff—Trump’s longtime golfing partner—and Kushner, whose investment fund, Affinity Partners, drew billion-dollar investments from the Arab monarchies whose conflict with Israel he had helped mediate.” The New York Times reported last week about an even more brazen Russian offering: a multibillion-dollar oil deal for assets owned by Russia’s Lukoil, which would directly benefit a Trump donor and two Middle Eastern groups that have done business with Kushner or Witkoff’s family. (A spokesman for Steve Witkoff said of the Times story that Witkoff “has no conflict of interest and no financial stake in this matter.” Of the Wall Street Journal story, a source described as “familiar with Witkoff’s thinking” said “the envoy is confident that any settlement with Russia would benefit America broadly, not just a handful of investors.”

 

But all these apparently enticing Russian schemes come with a catch: Russian energy assets are not worth much if those assets are regularly wrecked by Ukrainian drones. This makes plain the implicit quid pro quo in these lucrative deals offered to Trump’s family and friends: If you compel Ukraine to surrender, we will enrich you beyond reckoning.

 

Putin is attempting to leverage Russia’s most strategic asset in his war on Ukraine: Trump’s weakness for corruption. The 2.25 million barrels of diesel Putin offered Trump will have zero net impact on world energy markets or the world price of diesel. But accepting those barrels will collapse the U.S.-led sanctions regime on Russia—and align Trump with Putin against the Ukrainian air attacks on Russian energy production.

 

Trump stopped providing aid to Ukraine long ago. But the U.S. still provides Ukraine with crucial intelligence information. If Putin can entice Trump to cut Ukraine off from U.S. intelligence, he can do real damage to Ukraine’s capabilities. Russian diesel fuel is the cheese in that mousetrap. Trump’s negotiators are sniffing at the bait: The Kyiv Post reported today that Witkoff and Kushner are already threatening to stop information-sharing if Ukraine continues to strike Russian energy assets. And meanwhile, FBI Director Kash Patel is reportedly planning his own trip to Russia—one that members of Congress are urging him to cancel, as my colleague Sarah Fitzpatrick recently reported.

 

There is much about Putin’s offer of diesel that remains doubtful. Does Trump have the legal authority to buy previously sanctioned Russian oil? Does Russia even possess the diesel to sell? But one thing at least remains as clear as ever: With Trump, all roads lead to Putin.