A Malta-flagged tanker carrying 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.
Trump has made several moves hoping to bring down diesel prices ahead of November 3 US mid-term elections including 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.
The medium-sized tanker Agioi Fanendes was loaded with 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.
Russia agreed to lift a self-imposed ban on diesel exports and supply the fuel to global markets, including the US, after theagreementreached 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”.
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, Deputy Prime Minister Alexander Novak said last week.
Last week, export diesel cargoes were loaded in the Russian Baltic port of Primorsk, but their final destinations are not clear, with most vessel are signalling Gibraltar, the Atlantic Coast or Port-Said, according to LSEG shipping data.
Since the full EU embargo on import 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 an African countries.