A diesel supply deal with the United States will boost Russia’s economy and include direct exports to the U.S. market, Deputy Prime Minister Alexander Novak said Wednesday.
“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.
He said the agreement would bolster oil production and refining while generating tax revenue for Russia’s state budget.
Russian state agencies and oil companies are now finalizing supply contracts with U.S. counterparts, Novak said.
“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%.
Under the terms announced by U.S. President Donald 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.
Kremlin spokesman Dmitry Peskov said Moscow was closely monitoring signs of shifting policy in Washington, though he cautioned that it was too early to draw any “systemic conclusions.”
Kremlin envoy Kirill Dmitriev said the diesel deal could pave the way for broader Russian-U.S. economic and investment cooperation.
Reuters contributed reporting.
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