Russian diesel deal unlikely to cut German pump prices, industry says
Germany's Fuels und Energie association expects no major impact on pump prices from the Trump-Putin diesel deal. Berlin is keeping sanctions, while Moscow has partly lifted its diesel export ban.
Archive image · Photo: Roy Zuo / Wikimedia Commons, CC BY-SA 4.0 (cropped and resized)
Germany's Fuels und Energie industry association does not expect the diesel deal between Donald Trump and Vladimir Putin to have a major effect on German pump prices. Russian diesel has been banned from the EU since February 2023, and the volumes are unlikely to move world prices noticeably. According to the Tankerkönig price portal, diesel and petrol prices were close to Friday's levels as of Saturday noon.
The German government said it was sticking to its sanctions against Russia. Spokesman Stefan Kornelius said it had "taken note" of the U.S. decision and that support for Ukraine remained unbroken. Germany has bought no Russian oil or oil products since 2023, according to an Economy Ministry spokeswoman.
Meanwhile, Moscow partly lifted its diesel export ban. In a first step, 500,000 tonnes may go onto the world market, Tass reported, citing the Russian government, and oil companies were told to sign supply contracts immediately.