Russia to extend diesel export ban but will fulfill commitments to America
Sources reported that Russia will extend its diesel export ban until the end of the year, while allowing limited shipments to fulfill its commitments to the United States under a deal between Putin and Trump.
Translated by Qiyas from الراي — Original source
Two sources familiar with the matter told Reuters that Russia will extend its diesel export ban until the end of the year, allowing some companies to ship fuel under a quota system to meet its new export commitments to the United States.
Moscow and Washington agreed on a diesel supply deal after Presidents Vladimir Putin and Donald Trump spoke by phone earlier this month. A ceasefire in the energy sector between Russia and Ukraine, announced alongside the agreement, allowed Moscow to increase fuel production. Meanwhile, earlier fuel shortages earlier this year prompted the government to maintain strict controls on petroleum product exports.
Russian Deputy Prime Minister Alexander Novak said on Tuesday that three tankers carrying Russian diesel bound for export markets had already departed, with a fourth set to sail on October 28.
Novak added that Russian refineries are recovering quickly after repair work. The two sources noted that refinery utilization rates jumped 25 percent at the end of October compared to the beginning of the month, following a decline in drone attacks on facilities.
Under the current diesel export ban, the government permits limited exports through a quota system. The two sources said these quotas would be increased to four times October levels, reaching 2 million metric tons, or about 0.5 million barrels per day, in November. Shipments under existing intergovernmental agreements will also continue.
The Energy Ministry did not immediately respond to a request for comment.
The current diesel export ban is scheduled to expire on October 31.
