Key facts
- US envoys told Ukrainian officials that a deal allowing Russian diesel exports is part of a bid to draw Russia back to negotiations.
- Russia will be able to return diesel exports to levels above those US President Donald Trump has outlined under a deal.
- Russia's diesel exports could reach 3.0-3.5 million metric tons per month by year-end, returning to pre-crisis levels.
- Some US lawmakers criticize the deal, stating it provides Moscow with cash for the war without forcing concessions.
- Ukrainian President Volodymyr Zelenskiy criticized the deal as a reversal of Western policy aimed at isolating Russia's economy.
- Novak said Russian diesel supplies will partially balance global supply and demand, with prices falling by around five to six percent.
US envoys informed Ukrainian officials that a deal allowing Russian diesel exports is intended to encourage Russia to return to peace negotiations, according to sources familiar with the meeting. The US believes the agreement could 'soften' Moscow's stance and signal President Donald Trump's openness to dealing with Russia.
Deputy Prime Minister Alexander Novak said Russia has the capacity to increase diesel fuel exports, potentially reaching 3.0-3.5 million metric tons per month by the end of the year, returning to levels seen before recent attacks on refineries. Novak also stated that Russian diesel supplies will partially balance global supply and demand, contributing to a fall in global diesel prices by around five to six percent. He also claimed the value of Russian resources sold to EU countries from 2022 to the present day is $320.7 billion.
Trump announced on Friday that Russia had agreed to supply diesel to global markets, and his administration temporarily lifted US sanctions on Russian fuel. Trump stated Russia would supply over 2.25 million barrels of diesel to US and global markets immediately, with further supplies in November. He also urged Ukraine to cease striking Russian refineries, linking it to the diesel deal.
The deal has faced criticism from some US lawmakers who argue it will provide Moscow with cash for its war without forcing concessions. Ukrainian President Volodymyr Zelenskiy has criticized the deal as a reversal of Western policy aimed at isolating Russia's economy and said Russian strikes against energy targets show Moscow has no interest in an energy ceasefire.