A tanker carrying 40,000 metric tons of Russian diesel is heading to New York after the Putin-Trump agreement. Russia agreed to lift its self-imposed diesel export ban, while Trump is pushing to lower diesel prices before the November 3 mid-term elections.
A Malta-flagged tanker with 40,000 metric tons of Russian diesel is heading towards New York following an agreement with US President Donald Trump, LSEG data showed on Friday.
The Agioi Fanendes sails from Primorsk
The medium-sized tanker Agioi Fanendes loaded 40,000 metric tons of ultra-low sulphur diesel in the Russian Baltic port of Primorsk on October 22, according to shipping data. It is expected to arrive in the United States on November 7.
Other cargoes are less clear. Export diesel cargoes were loaded in Primorsk last week, but their final destinations are not clear, and most vessels are signalling Gibraltar, the Atlantic Coast or Port-Said, according to LSEG shipping data.
Russia lifts its diesel export ban
Russia agreed to lift a self-imposed ban on diesel exports and supply the fuel to global markets, including the US, after the agreement between Russian President Vladimir Putin and Trump. Trump announced on October 9 that Russia would immediately export 300,000 metric tons, or 2.25 million barrels, followed by 500,000 tons in November and 1 million tons "immediately thereafter".
Deputy Prime Minister Alexander Novak said last week that Russia will be able to increase diesel exports to between 3 million tons and 3.5 million tons per month by year-end, the country's usual export volume of the fuel.
Trump targets diesel prices before the mid-terms
Trump has made several moves hoping to bring down diesel prices ahead of the November 3 US mid-term elections. They include waiving parts of a new sanctions law against Russia and threatening Europe with a US diesel export ban unless countries released more from their emergency reserves.
Since the full EU embargo on imports of Russian oil products came into effect in February 2023 over the war in Ukraine, Russia has exported diesel mainly to Brazil and Turkey, as well as to African countries.
Source: Reuters via Investing.com
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