In theory, the agreed amount of roughly 800k tons throughout November is around 5.9m diesel barrels, the amount of crude needed to refine such amount is 17.5m barrels (give or take depending on the process).

Now let's look at the current rate of the EU diesel consumption per month, 100m-120m barrels of diesel, a MONTH. (per Reuters)

In theory even if this is passed, it just means a slight dent in the price of diesel and refined products.

Trump has also said the sanctions will not be paused, instead they're going to create a "work around" using the Treasury facilities to make this process possible. Something president putin refused to accept, no selling oil without sanctions being removed.