Russia-US diesel deal lowers global market prices

The diesel deal between Russia and the U.S. has made a significant contribution to energy security and helped lower fuel prices, Russian Foreign Minister Sergey Lavrov wrote in his article "The Impact of Global Economy on International Security" for the Kommersant daily.

"The agreement reached by the leaders of Russia and the United States to suspend restrictions on Russian diesel exports came as an important contribution to energy security. We have already begun implementing this agreement, and prices fell immediately as a result," Lavrov said.

Russian President Vladimir Putin and his U.S. counterpart, Donald Trump, held a phone call on October 9, during which they discussed, among other things, petroleum product supplies. The Russian president said that Moscow had reiterated its readiness to supply oil and petroleum products to the U.S. and global markets. The Washington administration has exempted Russian diesel fuel shipments to global markets from U.S. sanctions until April 7, 2027.