First Russian diesel from Putin-Trump deal heading for US, data shows

Key Points:

• The first Russian diesel shipment to the US under a recent agreement between Moscow and President Donald Trump is en route to New York, carrying 40,000 metric tons of ultra-low sulphur diesel from Primorsk, Russia.
• This deal, announced by Trump to reduce diesel prices ahead of the November 3 US mid-term elections, involves Russia lifting its self-imposed ban on diesel exports to the US, marking the first import since Biden's 2022 ban on Russian oil products.
• The Kremlin confirmed the first tanker has departed, with further shipments expected to continue steadily; however, the exact buyer and seller remain undisclosed.
• Since the EU embargo on Russian oil products in February 2023, Russia has primarily exported diesel to Turkey, Brazil, and African countries, with exports expected to return to pre-embargo levels of 3-3.5 million tons per month by year-end.
• The US Treasury is reportedly assisting with resolving payment issues related to the agreement, as companies from both countries work to finalize contracts for additional shipments.