Russia has partially lifted its diesel export ban to allow shipments of 500,000 tons to world markets, effective immediately under an agreement between Vladimir Putin and Donald Trump.
Ban details and timeline
The Russian government began enforcing the diesel export ban on 31 January targeting non-producing companies. It expanded the ban to include producers on 9 July.
At the initial stage of the partial lifting, 500,000 tons of diesel fuel can be dispatched to global markets. Russian oil companies will begin contracting exports in coordination with the government.
Domestic market impact
Aleksandr Novak, Deputy Prime Minister of Russia, said the decision would not negatively affect domestic consumers. He added that production volumes are sufficient to meet needs at home as well as in exports for the specified quantities.
The move follows an agreement between Putin and Trump aimed at adjusting diesel supply to global markets. The partial lifting takes effect the same day the decision was announced.
Related: White House weighs 90-day diesel export ban, report says
Source: Russian government
