Recent OFAC General License 135, issued October 9 following the Trump-Putin call, temporarily authorizes U.S. importation of Russian-origin diesel through April 2027, reversing prior sanctions under the 2022 Ending Importation of Russian Oil Act amid elevated distillate prices near $4.67 per gallon. This policy shift, intended to ease supply constraints and support global markets ahead of midterms, has lifted the outright prohibition but leaves actual physical deliveries by October 31 uncertain due to tanker transit times, refinery output constraints in Russia, and administrative lead times for cargoes. Traders price the implied probability of "No" at 60.5% because these operational hurdles outweigh the immediate legal clearance, with any confirmed arrivals likely falling after the resolution window despite the announced initial 300,000-ton release.
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