The first Russian diesel shipment bound for the U.S. since 2022 is heading to New York under President Donald Trump’s agreement with Moscow, as the administration seeks to ease fuel prices ahead of the Nov. 3 midterm elections.
First Russian Diesel Tanker Heads to New York
The Malta-flagged tanker Agioi Fanendes loaded 40,000 metric tons of ultra-low-sulfur diesel at Russia’s Baltic port of Primorsk on Oct. 22 and is expected to reach the U.S. on Nov. 7, according to LSEG shipping data cited by Reuters on Friday.
The buyer and seller have not been identified. The shipment would mark the first U.S. import of Russian petroleum products since former President Joe Biden banned such purchases in 2022 following Russia’s invasion of Ukraine.
Kremlin spokesman Dmitry Peskov confirmed that the first tanker under the agreement had departed, although he did not specify its destination.
"As far as I’m aware, there have already been reports from the Ministry of Energy that the first tanker has, in fact, set sail for its recipients, its buyers," Peskov said Friday. "Further shipments will continue at a steady pace from here on."
The White House did not immediately respond to Benzinga’s request for comment.
Trump-Putin Diesel Deal Targets Rising Fuel Prices
Trump announced the agreement Oct. 9, saying Russia would initially export 300,000 metric tons of diesel to the U.S. and global markets, followed by 500,000 tons in November and another 1 million tons afterward.
The announcement followed a phone call with Russian President Vladimir Putin and came as U.S. fuel prices hovered near record highs weeks ahead of the midterm elections.
The arrangement involves Russia lifting its own restrictions on diesel exports. Trump has also waived parts of a new U.S. sanctions law against Russia as part of the broader effort.
Earlier, Trump threatened to prohibit U.S. diesel exports to Europe unless countries released more fuel from their emergency reserves to help ease prices.
Russia Seeks to Restore Diesel Exports
Following the EU’s February 2023 embargo on Russian oil products, Moscow redirected much of its diesel trade toward Turkey, Brazil and African markets.
Russian Deputy Prime Minister Alexander Novak said the country could restore exports to its customary level of 3 million to 3.5 million metric tons monthly by year-end.
Russian envoy Kirill Dmitriev said the U.S. Treasury had sought help resolving payment issues tied to the agreement. However, a source familiar with the matter disputed that account, the report said.
The national average price of regular gasoline is $4.2926 per gallon, according to data from the American Automobile Association (AAA). The average diesel price is higher at $6.3172 per gallon, while E85 averages $3.3394 per gallon.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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