Siluanov reveals diesel deal impact on Russia's balance of payments

The agreements with the U.S. that opened up the possibility of exporting Russian diesel fuel to world markets will support Russia's balance of payments and bring indirect benefit to the country's budget through tax revenues from oil companies, Russian Finance Minister Anton Siluanov said.

"Our companies will get the opportunity to export diesel and receive revenue and currency for it; this is important for our balance of payments, and above all, of course, for the companies," Siluanov said.

Answering a question about whether the budget will receive additional revenues, he said:

"No, we do not have export duties on diesel. But this will be taken into account in companies' financial results, and they will accordingly pay taxes into the budget system," Siluanov said.

Following a telephone conversation between U.S. President Donald Trump and Russian President Vladimir Putin on October 8, the U.S. Treasury's Office of Foreign Assets Control issued a temporary general license until April next year permitting supplies of Russian diesel fuel to the world market.