The Kremlin said on Thursday that Russian diesel had begun to reach global markets following an agreement with U.S. President Donald Trump.
Trump said last week that Russia had agreed to supply diesel to global markets in an effort to lower fuel prices, while Moscow partially lifted its ban on diesel exports from Oct. 10 following the agreement.
"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 fully stabilize them," Kremlin spokesman Dmitry Peskov told reporters on a daily conference call.
LSEG data showed on Wednesday that Russia had resumed diesel export loadings from the Baltic port of Primorsk.
According to the shipping data, a tanker carrying around 40,000 metric tons of ultra-low sulphur diesel was loaded on Tuesday and was heading towards Morocco.
Under the terms announced by Trump last Friday, Russia agreed to immediately release more than 300,000 metric tons of diesel onto global markets, followed by an additional 500,000 metric tons in November.
The initial 300,000 metric tons (2.25 million barrels) is less than a day's supply for the U.S. transportation sector alone, according to U.S. Energy Information Administration data, which shows daily use of around 2.94 million barrels.
The U.S. Treasury Department issued a license authorizing transactions involving Russian diesel through April 7, 2027.
The deal has sparked pushback from European and Ukrainian officials, who argued that unlocking Russian energy revenues directly fuels the Kremlin’s war effort.
Russia has rejected European criticism of the diesel deal as "cynical," given that Europe continues to buy some Russian oil and liquefied natural gas.
Peskov's comments came a day after Deputy Prime Minister Alexander Novak said the diesel supply deal with the U.S. would boost Russia’s economy and include direct exports to the U.S. market.
“Without a doubt, this is a positive signal for our economy,” Novak told reporters on the sidelines of the Russian Energy Week forum in Moscow, according to the state-run news agency TASS.
“In accordance with the agreements, supplies will go to world markets, as well as the U.S. directly,” he said.
He added that Russia aims to restore monthly diesel exports to 3.5 million metric tons by the end of 2026, bringing its share of the global market above 10%.
Reuters contributed reporting.
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