Key facts
- Russia to send first diesel tanker to US on Thursday.
- Tanker displacement is 40,000 tons.
- US retail diesel prices above $6/gallon since September.
- Russian attacks hit energy facilities in Ukraine.
Russia is set to send its first diesel tanker to the United States on Thursday, according to Deputy Prime Minister Alexander Novak. The tanker has a displacement of 40,000 tons, and Novak indicated that additional shipments would follow to meet U.S. needs.
President Vladimir Putin also confirmed the tanker's departure within two to three days, with further shipments planned. President Donald Trump had previously stated that Russia would export over 300,000 tons of diesel immediately, followed by larger quantities in subsequent months. The Russian government partially lifted its diesel export ban on October 10 to allow 500,000 tons onto the market.
Analysts suggest Trump's initial export target would not significantly move global prices, while U.S. retail diesel has remained above $6 a gallon since September. Putin claimed that world diesel prices fell 5%-6% following the announcement. He also offered to supply fertilizer to the U.S. and assist with Iran.
Separately, Ukraine reported that Russian attacks overnight killed four people and hit energy facilities. President Volodymyr Zelenskiy stated that a meeting with U.S. envoy Steve Witkoff reached an agreement to resolve issues related to disrupted intelligence sharing and limitations on Ukraine's use of the Starshield satellite system.