Russia has begun supplying diesel to global markets following an agreement with U.S. President Donald Trump, Kremlin spokesman Dmitry Peskov told reporters on a daily conference call.
“The diesel has started reaching global markets and is expected to have a positive effect on stabilising oil markets, although it will not be enough to stabilise them,” Peskov said.
Trump said last week that Russia had agreed to supply diesel to global markets to help lower fuel prices. Moscow partially lifted its diesel export ban from Oct. 10 following the agreement.
LSEG shipping data showed on Wednesday that Russia had resumed diesel export loadings from the Baltic port of Primorsk.
A tanker carrying about 40,000 metric tonnes of ultra-low sulphur diesel loaded on Oct. 13 and was heading towards Morocco, according to the data.
Trump is seeking to lower U.S. diesel prices ahead of the Nov. 3 midterm elections.
Ukrainian President Volodymyr Zelenskiy, European officials and some of Trump’s fellow Republicans have strongly criticised the agreement.
Russia has dismissed European criticism of the deal as “cynical”, saying Europe continues to buy some Russian oil and liquefied natural gas.
Trump said on Friday that Russia would immediately supply more than 300,000 metric tonnes, equivalent to about 2.25 million barrels of diesel to U.S. and global markets.
He said Russia would supply another 500,000 tonnes in November and a further 1 million tonnes “immediately thereafter”.
Discover more from Energy News Africa
Subscribe to get the latest posts sent to your email.