Russia to resume normal diesel export volumes following deal with US

On October 12, 2026, Russian Deputy Prime Minister Alexander Novak announced that Russia will restore its diesel exports to between 3 million and 3.5 million tons per month by the end of the year. This development follows a diplomatic agreement between US President Donald Trump and Russian President Vladimir Putin, which involves an "energy truce" and the lifting of sanctions on Russian fuel exports. Under this arrangement, Russia will supply over 300,000 metric tons of diesel to global markets, including the US, in October, followed by 500,000 tons in November and one million tons thereafter.

While Moscow claims the move will balance global supply and demand, analysts remain skeptical regarding the impact on consumer prices. The feasibility of these exports depends on the operational capacity of Russian refineries and tanker availability. Additionally, the sustainability of this "energy truce" is under scrutiny following Russian strikes on Ukrainian energy infrastructure reported on Monday morning. Separately, Novak noted that despite Western sanctions since 2022, Russia has sold $320 billion worth of energy resources to the European Union, including $21.3 billion during the current year.