Moscow, 23 October. A Malta-flagged tanker carrying 40,000 tonnes of Russian diesel fuel is heading for New York, Reuters reported, citing LSEG data; it is the first delivery under the agreement between Russian and US Presidents Vladimir Putin and Donald Trump.
The day before, RDIF head Kirill Dmitriev said the deal would start being implemented on 23 October, while Deputy Prime Minister Alexander Novak had named 22 October as the date the first tanker would sail. In early October the Russian government partially lifted its ban on diesel exports to send 500,000 tonnes to the world market; according to Novak, by the end of the year deliveries could reach 3–3.5m tonnes a month, as before the crisis, and the extra volumes have already lowered world diesel prices. US sanctions on Russian diesel have been lifted for six months.
The supplies were negotiated by Russian and American companies and the two countries' energy ministries. The US was looking for additional sources amid a global fuel shortage caused by the closure of the Strait of Hormuz and damage to US refineries.
What it means: The deal announced on 9 October has moved from statements to the first cargo: 40,000 tonnes is the first real volume.
Who benefits: Russian oil companies get a new market; the US gets extra fuel during a shortage. The fall in world diesel prices that Novak describes benefits buyers.
Background: The buyer, the price and the tanker's arrival date in New York were not given.
List of sources used: InfoTEK
Artificial intelligence was used in preparing this material.
