Russia resumes diesel exports after agreement with Trump — Reuters

Russia has resumed diesel fuel supplies to world markets after an agreement with US President Donald Trump.

This was reported by Reuters with reference to the Kremlin.

Russian presidential spokesman Dmitry Peskov said that Russian diesel fuel has already begun to enter world markets and, according to Moscow, “should contribute to stabilizing the situation” on the oil market.

At the same time, the Kremlin admitted that these volumes will not be enough to fully stabilize the market.

According to LSEG, Russia has already resumed loading diesel fuel for export in the Baltic port of Primorsk. In particular, on October 13, a tanker was loaded there with approximately 40 thousand tons of ultra-low-sulfur diesel fuel. The vessel is heading to Morocco.

Last week, Trump said that Russia agreed to increase diesel fuel supplies to world markets in order to “contribute to reducing fuel prices.” After that, Moscow partially relaxed the ban on diesel fuel exports from October 10.

According to Trump, Russia should promptly supply more than 300 thousand tons, or about 2.25 million barrels of diesel fuel, to the markets of the United States and other countries.

There is also talk of another 500 thousand tons in November and 1 million tons later.

At the same time, Reuters notes that the declared volumes remain relatively small: the first batch is less than the daily consumption of diesel fuel by the US transport sector.

The agreement was criticized by Ukrainian President Volodymyr Zelenskyy, a number of European officials and some Republicans in the United States, who said that it could increase Russia’s revenues.