Russian government announces partial lifting of diesel export ban

China News Service, Moscow, October 10. The Russian government announced on the 10th that it would partially lift the ban on Russian diesel exports. The decision takes effect on that day, during which Russia will supply 500,000 tons of diesel to the international market.

The Russian government reported that the decision was aimed at implementing the agreement recently reached by Russian President Vladimir Putin and U.S. President Trump. To implement the decision, Russian oil companies will immediately start signing diesel export contracts with foreign partners after consultation with the government.

Russian Deputy Prime Minister Novak said that the decision will not harm the interests of Russian consumers. Novak said that diesel in Russia is produced in domestic refineries from Russian crude oil. Its production capacity can not only meet the domestic market demand, but also supply the above-mentioned scale of diesel to the international market.

On October 9, Putin had a phone conversation with Trump. Putin issued a statement on the presidential official website that night, saying that when the two sides discussed the global energy situation, Russia confirmed that it was ready to supply oil and petroleum products to the United States and global markets. Novak subsequently stated that Russia would immediately begin to lift restrictions on diesel exports ahead of schedule.

Trump announced on social media on the 9th that he had a phone call with Putin, and the two sides agreed that Russia would immediately provide more than 300,000 tons of diesel to the U.S. and global markets, and another 500,000 tons in November. After that, Russia will also provide 1 million tons of diesel to the market. The Office of Foreign Assets Control of the U.S. Department of the Treasury issued a licensing announcement on the 9th, authorizing the sale, delivery, unloading or import of Russian diesel. This authorization will last until April 7, 2027 Eastern Time. (over)