Russia's Lavrov says US diesel deal working, prices coming down
USO•Sergei Lavrov said an accord to supply Russian diesel to the United States and world markets is already working and lowering prices. The deal calls for 300,000 metric tons initially, followed by 500,000 tons in November and 1 million tons afterward.
1. Lavrov says deal is working
Russian Foreign Minister Sergei Lavrov said the agreement to suspend restrictions on Russian diesel exports had begun implementation and had immediately brought prices down. He gave no diesel price data, and said Russia was working to stabilize world energy markets.
2. Planned diesel shipments
The deal announced by US President Donald Trump calls for Russia to export 300,000 metric tons, or 2.25 million barrels, to US and global markets, followed by 500,000 tons in November and 1 million tons “immediately thereafter.” The US administration temporarily lifted sanctions on Russian fuel.
3. Prices and supply concerns
US diesel futures had fallen about 11% since the deal was announced, while US pump prices were at a record high the week Americans voted, GasBuddy data showed. Russian media said fuel shortages had returned to at least half a dozen Russian regions after Ukrainian strikes on at least eight major oil refineries in the previous two weeks.
