Novak reported a surplus in the Russian diesel fuel market

There is a surplus in the Russian diesel fuel market, so it is necessary to export it to the world market. This was announced on October 18 by Russian Deputy Prime Minister Alexander Novak.

"We have a surplus in the domestic market. And in order for our plants not to reduce the volume of processing, since there is nowhere to store the surplus, we must supply the volumes to the world market," he said in an interview with Vesti News agency.

According to Novak, Russia consumes about 3.5-4 million tons of diesel fuel per month, while additionally supplying 3.5 million tons to the global market. The Deputy Prime Minister added that Russia supplied fuel to the world market before the export ban, which was introduced in July this year.

Novak also said that in accordance with the agreements reached during the talks between Russian leader Vladimir Putin and US President Donald Trump, it became possible to send diesel to the United States.

Barrel operation: diesel from Russia may arrive in the USA in late October — November

How will this affect the Russian domestic market and global fuel prices?

On October 9, Trump announced that during a conversation with Putin, it was agreed that Russia would supply more than 300,000 tons of diesel fuel to the American and global markets, another 500,000 tons during November and 1 million tons immediately after that.

According to the general license published on the same day by the US Treasury Department, Washington allowed operations for the sale, supply, unloading and import of diesel fuel of Russian origin until April 7, 2027. In turn, Novak confirmed that Moscow was lifting restrictions on diesel fuel exports ahead of schedule and immediately.