New Platts Policy Excludes Russian-Origin Fuel

December 5, 2025 4:35 PM, EST

Key Takeaways:

Platts said it will stop including fuel made from Russian crude in its cargo price assessments on Dec. 15 and in barge assessments on Jan. 2.The change removes a potentially cheaper supply source and aligns Platts’ methodology with upcoming EU rules that ban fuels made with Russian oil.The shift follows stricter ICE rules issued Nov. 18 and comes ahead of broader EU measures next year aimed at limiting revenue that supports Russia’s war in Ukraine.

[Stay on top of transportation news: Get TTNews in your inbox.]

One of the world’s main companies for setting benchmark prices of physical commodities said it will start to ignore fuel made from Russian crude when making its assessments.

The step by Platts, a unit of S&P Global Energy, effectively eliminates one source of supply that might be cheaper than others. The move will align with European Union rules.

On Nov. 18, Intercontinental Exchange Inc. set out rules that are more restrictive than those of the EU, which allow diesel from a refinery that processes Russian barrels into the bloc, provided the fuel is from a production line that uses non-Russian oil.

By contrast, Platts said bids and offers it considers for its assessment process “are expected to carry the implicit guarantee that the oil product will satisfy the EU’s import ban.”

Platts’s two key types of price assessment are cargoes and barge loads of fuel.

Cargo assessments will cease reflecting products made from Russian crude from Dec. 15, the pricing agency said in a statement. Barge prices will stop doing so from Jan. 2.

The new EU measures taking effect next year will ban imports of fuels made with Russian crude as part of efforts to cripple revenues that help fund the Kremlin’s war in Ukraine.

Want more news? Listen to today’s daily briefing below or go here for more info: