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ICE to Prevent Russia Diesel Delivery from Jan23

OIL FUTURES

ICE circulate plan to prevent deliveries of Russian diesel futures from Jan2023 onwards.

  • The ICE exchange plan the exclusion of Russian-origin gasoil from delivery into the Low Sulphur Gasoil Futures Contract with effect from the January 2023 futures.
  • The exchange plan to require sellers who intend to proceed to delivery to provide documents to show compliance. These include certificates of origin, volume of deliverable supply and written assurance that no Russia fuel has been received after 30 Nov 22.
  • A consultation on the plan will close later this month on 27th July.

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