Rep. Jamie Raskin (D-Md.) warned American oil companies Monday against participating in President Donald Trump’s Russian diesel agreement, arguing that businesses helping Vladimir Putin sell fuel in the United States could face criminal and civil liability despite the administration’s sanctions relief.
Raskin Warns Companies Of Criminal Penalties
“Your members are now on notice,” Raskin wrote in an October 26 letter to three industry groups, calling participation a “clear and dangerous violation of federal law.” He warned that companies “will undoubtedly be held accountable to the fullest extent of the law.”
Raskin addressed American Petroleum Institute chief Mike Sommers, American Fuel & Petrochemical Manufacturers chief Chet Thompson and U.S. Chamber of Commerce president Suzanne Clark. His warning follows bipartisan criticism of Trump’s agreement.
“Those who choose to act in this way proceed at their own risk,” Raskin wrote, warning of consequences “whether in this Administration—or the next.”
He argued that Trump’s sanctions waiver could not override Congress’ 2022 import ban. Raskin cited potential criminal fines of $1 million, imprisonment of up to 20 years and civil penalties reaching twice a transaction’s value.
Russian Diesel Tanker Heads Toward New York
Reuters reported that a tanker carrying 40,000 metric tons of Russian diesel departed Primorsk on October 22 and should reach New York on November 7, marking the first such shipment since 2022.
The shipment follows Trump’s agreement to facilitate the resumption of Russian diesel shipments to the U.S. to ease soaring fuel costs. Reuters reported Monday that Russian refiners increased production following new export quotas.
Analysts Question Deal’s Impact On Prices
Bank of America commodity strategist Francisco Blanch expects Russian supplies to provide limited relief, citing Moscow’s domestic shortages.
The agreement could also affect U.S. refining stocks, including Valero Energy Corp. (NYSE:VLO), Marathon Petroleum Corp. (NYSE:MPC), Phillips 66 (NYSE:PSX) and PBF Energy Inc. (NYSE:PBF). Additional Russian diesel supplies could narrow refining margins, although analysts expect the initial shipments to provide limited price relief. Reuters’ market commentary last Wednesday similarly suggested that the initial volumes were unlikely to substantially reduce American fuel prices, while Middle Eastern supply disruptions continued pressuring markets.
Investors can also track the sector through the VanEck Oil Refiners ETF (NYSE:CRAK), which holds major U.S. refiners. The fund gained about 74% through October 21 in 2026, highlighting the sector’s strong performance amid elevated fuel margins.
The White House, in a statement shared with Politico, disputes Raskin’s legal interpretation, insisting the agreement complies with applicable laws. Spokesperson Taylor Rogers accused Democrats of prioritizing investigations over improving Americans’ lives.
API, AFPM and the Chamber of Commerce did not immediately respond to Benzinga’s request for a comment.
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