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US threatens diesel export ban unless Europe releases emergency reserves

US threatens diesel export ban unless Europe releases emergency reserves
29 articles·23 sources·updated about 1 hour ago·View in graph
politicsunited states of americagermanyeuropean union
AI-generated · Hosted in Europe

The United States escalated pressure on Europe on Thursday, demanding the release of emergency diesel reserves or risk a ban on U.S. diesel exports, as Washington seeks to curb soaring fuel prices ahead of November’s midterm elections.

President Donald Trump told reporters in Texas that his administration “may” ask European countries to tap their diesel stocks, shortly after Treasury Secretary Scott Bessent urged Europe to “immediately” make additional supplies available to address disruptions. “Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions,” Bessent wrote in a social media post .

The U.S. has specifically targeted France and Germany, which hold more than a third of the EU’s strategic diesel reserves, according to Reuters. Sources familiar with the discussions told multiple outlets that Washington wants the EU to release 120 million barrels over six months—over a third of the bloc’s reserves—to ease global shortages . Energy Secretary Chris Wright said he was “highly confident” Europe could help stabilize prices by releasing inventories .

EU trade chief Maros Sefcovic called a potential U.S. export ban “unexpected” but warned it would harm Europe’s economy . European officials are coordinating a response, with the European Commission convening an emergency meeting on Friday to discuss a unified position . U.S. diesel prices hit a record $6.53 per gallon last week, while EU data showed 12 member states, including Italy and Poland, recorded new highs .

U.S. Trade Representative Jamieson Greer said Washington was prepared to work with European partners to boost refined product supply and lower costs for consumers .

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