Russia says diesel agreement will boost economy and allow direct exports to the United States
Deputy Prime Minister Alexander Novak says the pact will strengthen production, generate tax revenue and allow direct shipments to the United States.
Russia's deputy prime minister said an agreement on diesel supplies with the United States will give a lift to the Russian economy and open the door to direct shipments into the U.S. market.
"Without doubt, this is a positive signal for our economy. The agreement will strengthen oil production and refining, and at the same time will generate tax revenues for the state budget of Russia. Russian state agencies and oil companies are now finalizing supply contracts with their American colleagues," Alexander Novak said.
Market targets and timing
Novak added that deliveries under the deals will flow to global markets as well as directly to the United States. He framed the accords as a way to bolster domestic production chains and state revenues while re-establishing Russia's role in the diesel trade.
"Russia aims to restore monthly diesel exports to 3.5 million metric tons by the end of 2026, which will raise our share of the global market to exceed 10%," Novak said.
The announcement ties projected export volumes to refinery output and tax income, signalling Moscow's intention to regain scale in international diesel shipments within the next two years.
Photo: AP)
