MOSCOW - Russia, which has seen diesel exports collapse due to Ukrainian attacks on oil refineries and self-imposed overseas sales restrictions, will be able to return them near former levels and above amounts US President Donald Trump has outlined, Deputy Prime Minister Alexander Novak said on Oct 12.
Trump announced on Oct 9 that Russia had agreed to supply diesel to global markets, and his administration temporarily lifted US sanctions on Russian fuel designed to deprive Moscow of revenue for its war on Ukraine.
“We will see how the situation develops further, but Russia has the capacity to increase diesel fuel exports,” Novak, President Vladimir Putin’s pointman on oil, said on Rossiya-24 state TV channel.
“By the end of the year, exports could reach 3.0-3.5 million metric tonnes per month, returning to the levels seen before the crisis,” he said.
Before Ukraine launched a barrage of drone attacks on Russian oil refineries in 2024-2025, Russian diesel exports amounted to more than 3 million metric tonnes per month.
Despite a self-imposed export ban, Moscow has continued to supply diesel to countries, mostly in Central Asia, under government deals. Russian diesel exports to Central Asia in September amounted to 427,000 tonnes, according to industry sources.
Soaring US diesel prices are hurting US truckers and farmers, and are a concern for voters and political parties ahead of US midterm elections on Nov 3.
Novak also said that under the deal with Trump, Russian diesel supplies will partially balance global supply and demand.
“We are already seeing this effect, including in global diesel markets, where prices have fallen by around 5-6%,” Novak said.
Trump said on Oct 9 that Russia will immediately supply more than 300,000 metric tonnes (2.25 million barrels) of diesel to US and global markets.
That is less than a day’s supply for the US transport sector alone, according to US Energy Information Administration data, which shows daily use of around 2.94 million barrels per day.
Trump also said Russia would supply another 500,000 tonnes in November and a further 1 million tonnes “immediately thereafter”. REUTERS