Novak Says Three Tankers of Russian Diesel Are Heading to North America

Russian Deputy Prime Minister Alexander Novak said on Friday that three tankers carrying Russian diesel are on their way to North America. According to him, the cargoes are part of an arrangement to supply U.S. and global fuel markets. The matter is significant because the deal aims to ease fuel prices while U.S. sanctions on Russian fuel are temporarily relaxed.

Russian news agencies quoted Novak's statement. He said the first three fuel tankers are already heading toward the eastern coast of the Atlantic Ocean, with significant support from the Russian Direct Investment Fund (RDIF). Novak also said Russian companies could deliver 500,000 metric tons of diesel in October.

Background to the deal

U.S. President Donald Trump announced the arrangement earlier this month. Under it, Russia agreed to supply diesel to global markets in order to push fuel prices down. The Trump administration temporarily lifted U.S. sanctions on Russian fuel for this purpose. The sanctions had been designed to deprive Moscow of revenue used for its war against Ukraine.

In the version announced by Trump, the deal provided for 300,000 metric tons in October, with more to follow later. The volume cited by Novak is higher.

Tanker heading to New York

A Reuters exclusive published earlier on Friday, based on ship-tracking data, reported that the first Russian diesel was aboard a tanker headed for New York.