India, Oct. 11 -- President Donald Trump said on Friday that Russia had agreed to supply diesel to global markets in an effort to lower fuel prices, and his administration temporarily lifted US sanctions on Russian fuel that were designed to deprive Moscow of revenues for its war on Ukraine.

Prices for diesel, used for agriculture, heating homes and trucking, are near a record and risk for Trump's fellow Republicans ahead of the November 3 congressional elections that will determine whether they maintain thin control of Congress.

Diesel prices fell after the announcement, but analysts said the deal may not be enough to keep them down.

Trump said on social media he had a "highly successful" discussion with President Vladimir Putin in wh...