Russia-US diesel deal deliveries to take 15-20 days, says Moscow

The US president announced the controversial deal with Russia as a move to lower fuel prices ahead of the Nov 3 midterm elections. (EPA Images pic) MOSCOW: Shipping Russian diesel to the US market will take 15 to 20 days once contracts are signed, a senior Russian official said in an interview broadcast Sunday, though a date for that signing has yet to be announced.

US president Donald Trump announced the controversial agreement with Moscow last week, seen as a way to try to lower fuel prices for American consumers ahead of crucial midterm elections on Nov 3.

"Negotiations are currently under way regarding the commercial terms - that is, on finalisation of the contracts," Russian deputy prime minister for energy Alexander Novak said in an interview with state-run media outlet Vesti.

"Once the contracts are signed, the fuel will reach the markets - in this case, the US markets - within 15 to 20 days," said Novak, without setting a date for signing the contracts.

On Wednesday, the Kremlin’s adviser on international economic cooperation, Kirill Dmitriev, had said the contracts would be signed within days.

Unhappiness in the US at rising pump prices since the beginning of the US and Israeli war on Iran has raised the spectre of heavy electoral losses next month for Trump's Republicans.

Many experts also believe the diesel accord with Moscow will not fundamentally make a difference when it comes to consumers' wallets.

The US consumes 3.9 million barrels of diesel a day, whereas the accord with Moscow initially concerns 2.22 million barrels total - barely enough for half a day of US consumption.