Russian and US companies discussing diesel supplies, Novak says
In short
Russian Deputy Prime Minister Alexander Novak said on October 12 that Russian companies were discussing diesel supplies with buyers and that talks were also taking place between the Russian and US energy ministries. The discussions follow Russia's partial lifting of its diesel export ban.
Read the full story 1 min read
Russian Deputy Prime Minister Alexander Novak said on October 12 that Russian companies were negotiating diesel supplies with potential buyers and that discussions were also taking place between the Russian and US energy ministries. Interfax reported his remarks in an interview with Vesti (Вести). RBC reported that Novak said Russian companies were already holding talks with US businesses over diesel supplies. [ 3 , 4 ]
According to Interfax, Novak said the Russian government had moved quickly to partially lift the diesel export ban following agreements between Presidents Vladimir Putin and Donald Trump. He said the decision allowed supplies to world markets, including the United States. Novak also said the Americans had lifted previously imposed sanctions for six months, Interfax reported. [ 4 ]
RIA Novosti reported that the Russian government had announced a partial lifting of the ban effective October 10. The restrictions had applied to producers through October 31 and to non-producers through January 31, 2027. The government said the change would initially allow 500,000 tonnes of diesel to reach the world market. It also said Russian oil companies would immediately begin concluding export supply contracts in coordination with the government. [ 2 ]
Kommersant reported Novak's statement that additional Russian supplies would increase volumes on global markets and partly balance supply and demand. He said world diesel prices had already fallen by 5–6% following Russia's lifting of the export ban. According to the newspaper, Novak said Russia could increase diesel exports to 3–3.5 million tonnes per month by the end of the year. He said the domestic market was the priority and was fully supplied, because Russian refinery capacity substantially exceeded domestic needs. [ 5 ]
Why it matters
Novak said additional Russian supplies could increase volumes on world markets and partly balance supply and demand. Kommersant reported his estimate that Russia could raise diesel exports to 3–3.5 million tonnes per month by the end of the year.
Key facts
- Novak said Russian companies were negotiating diesel supplies with buyers, with talks also taking place between the Russian and US energy ministries. [ 2 , 4 , 5 ]
- RBC reported Novak's statement that Russian companies were already discussing diesel supplies with US businesses. [ 3 ]
- Russia partially lifted its diesel export ban from October 10, RIA Novosti reported. [ 2 ]
- The Russian government said the measure would initially allow 500,000 tonnes of diesel to be supplied to the world market. [ 2 ]
- Novak said Russia could raise diesel exports to 3–3.5 million tonnes per month by the end of the year, Kommersant reported. [ 5 ]
- Novak said the domestic market remained a priority and was fully supplied with diesel, Kommersant reported. [ 5 ]
Confirmed by several sources
Still unclear
- The documents do not specify the terms or delivery dates of individual diesel supply contracts. The reports describe ongoing talks without detailing individual agreements.
- Novak said world diesel prices had fallen by 5–6% after the export ban was lifted. Only Kommersant provides this figure in the supplied documents, attributing it to Novak.
What local media are saying
Timeline, local time
- On October 12, TASS reported Novak's statement that Russian and US companies were already discussing diesel supply deals. [ 1 ]
- On October 12, Interfax reported Novak's account of company and ministry talks following the partial lifting of the export ban. [ 4 ]
- On October 12, Kommersant reported Novak's estimates for increased exports and lower world diesel prices. [ 5 ]