- Russia partially lifts diesel export ban to increase foreign supply amid fuel concerns
- Agreement reached between Putin and Trump to boost diesel exports to US and other markets
- Initial phase may allow 500,000 tonnes of diesel exports, increasing in subsequent months
Russia has partially lifted its ban on diesel exports, allowing additional supplies to reach foreign markets as concerns over fuel availability and prices persist. The move follows an agreement between Russian President Vladimir Putin and US President Donald Trump to increase diesel supplies to the United States and other international markets, TASS reported.
The Russian government announced the decision saying the move would allow additional diesel shipments to foreign markets while ensuring adequate supplies for domestic consumers. President Donald Trump, granting Moscow authorization to sell diesel fuel to the United States and other foreign buyers notwithstanding sanctions imposed over the war in Ukraine.
Russian Deputy Prime Minister Alexander Novak said the country's production capacity was sufficient to meet domestic demand while supporting exports at the agreed volumes. The government will coordinate with oil companies on export contracts and supply arrangements.
According to reports citing Russia's state news agency Bastille Post, the initial phase of the arrangement could allow 500,000 metric tonnes of diesel to reach international markets. Trump also indicated that the supply arrangement would involve 300,000 tonnes in October, followed by 500,000 tonnes in November and a further one million tonnes subsequently. The precise implementation and timing of these volumes remain subject to confirmation.
The agreement follows discussions between Putin and Trump on global energy developments and efforts to resolve the Ukraine conflict. The proposed shipments are expected to increase the availability of diesel in international markets and potentially ease upward pressure on fuel prices.
Russia is among the world's major diesel exporters, making changes to its export policy significant for global energy markets. Additional supplies could help importing countries address shortages, although the impact on prices will depend on actual shipments, demand and developments in other major producing regions.
According to Kremlin reports via TASS, Russian oil producers have been authorized to immediately commence contracting for diesel fuel exports to overseas buyers.
The decision comes as Russia's oil-refining industry faces disruptions from Ukrainian drone attacks on energy infrastructure. Damage to refineries has affected production and contributed to concerns over domestic fuel availability, prompting Moscow to impose export restrictions.
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The partial relaxation of the ban has also drawn criticism from Ukraine and some Western officials, who argue that renewed Russian energy exports could generate additional revenue for Moscow while the war in Ukraine continues.
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