US President Donald Trump says Russia will supply millions of tons of diesel fuel to the US and global markets following a discussion with Russian President Vladimir Putin.

“I have just concluded a highly successful discussion with President Vladimir Putin, of Russia,” Trump said in a Truth Social post, Qazinform News Agency reports.

Trump said that Russia has agreed to begin deliveries immediately, supplying more than 300,000 tons of diesel fuel, followed by another 500,000 tons in November and a further 1 million tons thereafter.

Trump added that Russia would deliver an additional 3 million tons within a short period, depending on the condition of its diesel refineries.

He said the planned supplies, combined with what he described as US “total control” of the Strait of Hormuz, would quickly lower diesel prices in the US and worldwide.

Trump also highlighted reducing fuel costs for American farmers, ranchers and truckers as a key priority.