US tells France and Germany to release diesel stocks or face US export ban: Report
The administration is weighing a 90-day export ban while saying Europe holds enough stockpiles to help ease record diesel prices, officials said.
- U.S. Trade Representative Jamieson Greer urged European allies on Thursday to release strategic diesel reserves, seeking a "collaborative response" to soaring fuel costs.
- Amid soaring fuel costs, President Donald Trump has threatened to ban U.S. diesel exports, citing recent Ukrainian attacks on Russian refineries as driving record-high prices.
- Treasury Secretary Scott Bessent urged partners to "match their commitments" and called for "additional supplies immediately available" to address ongoing disruptions affecting fuel markets.
- European officials, including France's Minister Delegate for International Trade Nicolas Forissier, expressed skepticism about a potential ban, warning it would have "very dramatic consequences" for economic performance.
- The administration maintains the price surge is a "one-time spike," while Energy Secretary Chris Wright remains "highly confident" Europe can ease fuel prices by drawing down inventories.
158 Articles
158 Articles
Aftenposten
NettavisenThe US president says it may be appropriate to ask EU countries to release parts of their diesel reserves to bring down the price. On Friday, the EU Commission and member states will meet to discuss rising fuel prices.
Five European countries and the European Commission have held emergency talks on the US demand that European countries release their strategic diesel stocks. Washington is pushing for the release of around 120 million barrels of European diesel reserves or threatens to restrict US diesel exports. The European parties have agreed to respond to the pressure in a coordinated manner, within the framework of the International Energy Agency. The stake…
Businesses and the transportation industry are increasingly calling on the government to intervene in the cost crisis.
High fuel prices are an important issue leading up to the US midterm elections on November 3, notes the BBC, among others.
In the face of the global boom in pump prices, the White House is sending France and Germany to release their emergency reserves. The threat of a blockage of US diesel exports is a source of fear...
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