Diesel Agreement Reached Between Turkey and Russia

Speaking at the Verona Eurasian Economic Forum, officials stated that an agreement has been reached between Turkey and Russia regarding diesel fuel supply. Russia had previously banned diesel exports for market stability and partially lifted this ban following US moves.

Speaking to journalists within the framework of the Verona Eurasian Economic Forum, Bayraktar noted that companies need to confirm the situation while stating that there is an agreement on the matter. The diesel export ban previously introduced to protect the stability of the fuel market in Russia was planned to last until October 31, 2026 for producers and until January 31, 2027 for non-producers.

On October 9, US President Donald Trump and Russian President Vladimir Putin held a phone call. During this call, Russia's supply of diesel fuel to the US and international markets was discussed. Following the call, OFAC, affiliated with the US Treasury Department, issued a temporary license allowing Russian diesel fuel supply to the global market, and the Russian government partially lifted the export ban on October 10.