The consequences of the US easing restrictions on Russian diesel on the oil market are named

The US decision to purchase diesel fuel from Russia will have a significant impact on the global market. Such consequences of the easing of sanctions were described to Lente.ru by the portfolio manager of Alfa Capital Management Company Dmitry Scriabin.

Earlier it became known that the United States had removed Russian diesel fuel from sanctions. Prior to this, United States President Donald Trump announced an agreement with Russian President Vladimir Putin on large-scale supplies of diesel to the United States.

“The expansion of fuel supplies will have a noticeable, but not radical, impact on the world market. The announced volumes - more than 300 thousand tons in the near future, another 500 thousand tons in November and then an additional million tons - are relatively small in terms of global consumption. A million tons is about six months of US diesel consumption and less than a percent of global monthly demand. The impact on the expectations of market participants may be more significant: these decisions give reason to expect further easing of restrictions and an increase in Russian fuel exports,” Scriabin noted.

At the same time, for Russian oil refineries and exporters, the White House’s decision to expand supplies is a positive factor. An additional channel for them to sell excess diesel without a significant discount appears, which can support revenue and the utilization of refining capacity, the expert noted.