Moscow says first tanker carrying Russian oil to world markets has departed

Moscow said on Saturday that the first tanker carrying Russian oil to world markets has departed its point of origin.

Deputy Prime Minister Alexander Novak told the political talk show Solovyov Live that Moscow has "no issues" as far as oil sales are concerned and that many countries are interested in becoming buyers of Russian oil.

"I am aware that the first tanker has already been loaded and dispatched from the port at Dikson," Novak said, referring to the Russian Arctic seaport on the coast of the Kara Sea in the Krasnoyarsk region.

US President Donald Trump on Oct. 9 unveiled a diesel supply agreement following a phone call with Russian President Vladimir Putin, under which Moscow agreed to provide fuel to the US and global markets.

Putin said Russian diesel supplies to US and global markets would benefit the world economy, while Ukrainian President Volodymyr Zelenskyy criticized the deal, warning that easing restrictions on Russian diesel exports could help finance its war effort.

In further remarks, Novak said the market is currently facing a shortfall of approximately 4–6 million barrels of oil per day, which has consequently raised prices.

Novak said that while the market hopes for a resolution, prices remain elevated, and will be driven even higher if the situation in the Strait of Hormuz does not improve.

"If the opportunity for supplies from Persian Gulf countries opens up, it seems to me that the market will rebalance within a year to a year and a half," Novak added.

He argued that the ability to use oil reserves to stabilize the world market is "already being exhausted."

The deputy prime minister said Russia expects to supply 39 billion cubic meters of gas to neighboring China through the Power of Siberia pipeline. "There is also an agreement in place to expand its supply capacity to 44 billion cubic meters of gas."

He said the technical capability to restore gas supplies to Europe via the Nord Stream pipelines still exists "if decisions are made regarding the damaged pipelines."

"Currently, three of the four lines are inoperable as a result of terrorist attacks and explosions. One line remains intact, and supplies could be delivered through it. However, this depends on the consumers—on our European counterparts," he said.