A Malta-flagged tanker carrying 40,000 tonnes of Russian diesel is heading toward New York following an agreement announced by U.S. President Donald Trump and his Russian counterpart Vladimir Putin, London Stock Exchange Group data showed on Friday.
Trump has taken several steps aimed at lowering diesel prices ahead of the November 3 U.S. congressional midterm elections, including exempting Russia from some new sanctions and threatening Europe with a ban on U.S. diesel exports unless it draws down its emergency reserves.
Shipping data showed that the medium-sized tanker Agioi Fanendis loaded 40,000 tonnes of ultra-low-sulfur diesel at Russia’s Baltic Sea port of Primorsk on October 22. It is expected to arrive in the United States on November 7.
Russia agreed to lift a ban on diesel exports in order to supply global markets, including the United States, in an effort to reduce fuel prices following the agreement between Trump and Putin.
Trump said on October 9 that Russia would immediately export 300,000 tonnes, equivalent to 2.25 million barrels, followed by 500,000 tonnes in November and another 1 million tonnes “immediately thereafter.”
Russian Deputy Prime Minister Alexander Novak said last week that Moscow would be able to increase diesel exports to between 3 million and 3.5 million tonnes per month by the end of the year, returning to its normal export levels.
London Stock Exchange Group shipping data last week showed diesel cargoes being loaded at Primorsk, although their final destinations were not yet clear.
Most of the tankers only indicated that they were heading toward Gibraltar, the Atlantic coast or Port Said.
Russia has exported diesel to countries including Brazil, Turkey and several African nations since the European Union imposed a ban on imports of Russian oil products in February 2023 over the war in Ukraine.
Source: Reuters
