Russian diesel to enter US market 15-20 days after signing contracts

TASS

MOSCOW, October 18. /TASS/. Russian diesel fuel will enter the US market within 15-20 days after the signing the contracts, Deputy Prime Minister Alexander Novak said in an interview with Vesti.

"The US Department of Energy has identified the companies that will be the counterparties and buyers. Currently, negotiations are underway on commercial terms, in fact, on the signing the contracts. As soon as they are signed, the fuel will be delivered to the markets within 15-20 days — this refers to the US markets. If we talk about global markets in other, closer countries, the timeframe will be shorter," Novak said.

He said that after a phone talk and an agreement between Presidents Vladimir Putin and Donald Trump the Russian government lifted the restrictions on diesel fuel exports the next day.

"In the future, we will increase production as much as we can, as planned, and as the presidents agreed. This is 500,000 tons in October, 1 million tons in November, and 1 million tons in December. By the end of the year, if the oil refineries operate at full capacity as before, we will be able to supply 3.5 million tons to world markets. This is almost 10% of the entire global market," Novak said.

Novak noted that active work is currently underway between the Russian Energy Ministry and the US Department of Energy, and there is full contact between Russian exporting companies and buyers of Russian diesel.

Fonte: TASS