Russia Extends Diesel Export Ban Until Year End

Russia will extend its diesel export ban until the end of the year while allowing some companies to ship fuel under a quota system to meet its new export commitment to the US, two people familiar with the discussions told Reuters.

Moscow and Washington agreed a diesel supply deal after Presidents Vladimir Putin and Donald Trump spoke by phone earlier this month. The energy ceasefire between Russia and Ukraine announced alongside the agreement has allowed Moscow to increase fuel production. At the same time, fuel shortages earlier this year have prompted the government to maintain tight controls on oil product exports.

Deputy Prime Minister Alexander Novak said on Tuesday that three tankers carrying Russian diesel to export markets were already under way and that a fourth would sail on October 28.

Novak also said Russian refineries were recovering quickly from repairs. The sources said refinery utilisation had risen 25% at the end of October from the start of the month after drone attacks on facilities subsided.

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