
8 days · 5 summary articles
The United States has escalated pressure on the European Union to release diesel reserves, threatening an export ban if the bloc refuses, as Washington seeks to lower record-high fuel prices ahead of midterm elections on Nov. 3.
U.S. Treasury Secretary Scott Bessent urged Europe on Thursday to “immediately” tap its reserves, stating that “our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.” President Donald Trump confirmed the push, telling reporters the U.S. “may” ask Europe to release stocks, while U.S. Trade Representative Jamieson Greer said France, Germany and Italy “would love to have a cooperative path forward” on increasing diesel supply .
Washington has demanded the EU release roughly 120 million barrels over six months—more than a third of the bloc’s reserves—targeting Germany and France in particular, according to three sources familiar with the discussions . EU Trade Chief Maroš Šefčovič warned that a U.S. export ban would have “detrimental effects on Europe’s economy” but said the bloc seeks a coordinated approach with Washington .
European officials met in an emergency session on Thursday to coordinate a unified response, with five major EU countries agreeing to present a common front, according to Politico . The EU Energy Task Force is due to discuss the matter further on Friday. U.S. diesel prices hit a record $6.53 per gallon last week, with current averages near $6.39, according to AAA data .
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