Russian Foreign Minister Sergei Lavrov confirmed that the agreement to supply Russian diesel to the American and global markets has begun to achieve actual results by reducing prices, stressing that Moscow – unlike Western countries – does not use its economy to achieve political gains against its opponents or competitors.
In an article published by the Russian newspaper “Kommersant”, Lavrov explained that his country has provided Europe with energy resources worth $320 billion since 2022. He considered that the agreement concluded between the Russian and American presidents to suspend restrictions imposed on the export of diesel represents a pivotal contribution to strengthening global energy security, stressing Russia’s commitment to achieving stability in energy markets and supporting balanced and sustainable development of major regions.
It is noteworthy that on October 9, US President Donald Trump announced an unexpected agreement under which Russia would export 300,000 tons (2.25 million barrels) immediately to the American and global markets, followed by a supply of 500,000 tons in November, then one million tons at a later stage, with the aim of curbing fuel prices ahead of the midterm congressional elections. To this end, the US administration temporarily lifted the sanctions imposed on Russian fuel, which were primarily aimed at depriving Moscow of revenues from financing its war in Ukraine.
In the absence of official data from the Russian side about diesel prices, the data indicates a decline in futures prices in the United States by about 11% since the announcement of the agreement. However, retail prices at American gas stations recorded record high levels last week coinciding with the voting process, according to the “Gas Buddy” service that tracks fuel prices.
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