Turkish authorities announce general agreement on diesel supplies from Russia

There is a general agreement on supplies of diesel fuel from Russia to Turkey, Turkish Minister of Energy and Natural Resources Alparslan Bayraktar told reporters on the sidelines of the Verona Eurasian Economic Forum.

"The companies have to confirm this, but we have an agreement on this matter," he said.

As reported, in order to maintain stability on the fuel market, a ban on diesel fuel exports was introduced in Russia: for producers it was to be in effect through October 31, 2026, and for non-producers until January 31, 2027.

Meanwhile, in a telephone conversation on October 9, the presidents of Russia and the United States, Vladimir Putin and Donald Trump, discussed supplies of diesel fuel from Russia to the American and international markets. After that conversation, OFAC of the U.S. Treasury Department, on Trump's instructions, immediately issued a temporary general license permitting supplies of Russian diesel fuel to the world market. The next day, the Russian government announced that the ban on diesel fuel exports had been partially lifted, with the decision taking effect on October 10.

Russian Deputy Prime Minister Alexander Novak later assured that this decision would not affect the interests of Russian consumers. "Diesel fuel in Russia is produced from Russian oil at domestic oil refineries. Production volumes make it possible to fully supply both the domestic market and the specified volumes to the world market," the deputy prime minister said.

Source: Interfax