A Malta-flagged tanker is slicing through the Atlantic with a cargo that would have been unthinkable two years ago. The Agioi Fanendes, loaded with 40,000 metric tons of ultra-low-sulphur diesel, is on track to dock in New York on November 7. LSEG shipping data confirmed the route on Friday, marking the first time Russian fuel has headed for American shores since President Joe Biden banned such imports in 2022.
The vessel left Russia’s Baltic port of Primorsk on October 22, just days after a seismic shift in US-Russia relations. President Donald Trump announced the deal on October 9, aiming to slash soaring diesel prices ahead of the November 3 midterm elections. The agreement required Russia to lift its self-imposed export ban, a move that directly contradicts the sanctions regime in place since the invasion of Ukraine began in February 2022.
This isn’t a one-off transaction. Russian Deputy Prime Minister Alexander Novak stated that further shipments will follow as contracts are finalized. He projected that Russia could ramp up diesel exports to 3 million to 3.5 million tons per month by year’s end. The initial deal involves 300,000 metric tons immediately, followed by 500,000 tons in November and another million tons shortly after.
The mechanics of the deal remain murky. Kremlin envoy Kirill Dmitriev, who heads Russia’s sovereign wealth fund, revealed that the US Treasury approached his fund to resolve complex payment issues. The identities of the buyer and seller for this specific shipment remain undisclosed. Since the EU embargoed Russian oil in February 2023, Moscow has primarily redirected diesel to Brazil, Turkey, and Africa, making this US pivot a significant geopolitical realignment.