Russia is beginning to partially lift restrictions on diesel exports, Deputy Prime Minister Alexander Novak announced. According to him, the measure is being introduced earlier than previously planned and is related to the agreements between Russian President Vladimir Putin and US President Donald Trump.
“Russia immediately begins lifting restrictions on diesel exports ahead of schedule“, Novak told TASS.
According to the scheme he presented, Russian companies can supply 300,000 tons of diesel fuel to international markets in October. In November, the volume should increase to 500,000 tons, and in December to 1 million tons. In the longer term, monthly deliveries could be increased to 3 million tons.
Companies begin negotiating supplies
Russian oil companies will immediately begin negotiations and signing contracts with foreign buyers, with supplies to be coordinated with the government. Moscow claims that the release of export quantities will not affect the domestic market.
“The Russian market will also be fully supplied with diesel fuel”, Novak assured.
The data released by TASS differ from the claim that 500,000 tons will be directed to the world market in the first stage. According to Novak's statement, this volume is planned for November, while 300,000 tons are indicated for October.
The decision follows a conversation between Putin and Trump
Putin and Trump had a phone call on October 9, during which they discussed the supply of oil and petroleum products. After the conversation, Trump said that Russia would begin supplying more than 300,000 tons of diesel fuel to the US and global markets, followed by another 500,000 tons in November and 1 million tons at a later stage.
Before the change, Russia had extended restrictions on the export of diesel and marine fuel until the end of October. The general ban on fuel exports was scheduled to remain in force until January 31, 2027.
The next step is for Russian producers to agree on specific quantities, terms and directions of supplies. Novak said that Moscow is ready to supply both the American market and its other partners.
Sources: tass.ru, investing.com