US tells France and Germany to release diesel stocks or face US export ban: Report
U.S. officials said Europe has enough reserves to help ease fuel costs as the Trump administration weighs a 90-day diesel export ban.
- 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.
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227 Articles
In the United States, diesel stocks have plummeted to historic lows, pushing the price lists to records and threatening to cripple logistics and raise inflation. Put in the grip of internal urgency, the American president thus had to force the hand of the European allies.
The Iran war triggered a surge in diesel prices. The US urged Europe to tap into its fuel reserves, while Trump threatened to restrict US diesel exports.
The US threatened to restrict oil exports to Europe if strategic reserves were not released to contain oil prices.
Donald Trump Might Go to the Extreme and Ban all Diesel Export Sales to Drop Prices But Could Backfire
The Trump administration is urging European allies to release diesel reserves as record prices hit drivers, farmers, and truckers on both sides of the Atlantic. Treasury Secretary Scott Bessent says "America is doing its part," while President Trump weighs a diesel export ban that advisers warn could raise other prices.
US pressures Europe to release diesel reserves ‘immediately’ to tame prices
By Anna Cooban, Hanna Ziady, CNN London (CNN) — European officials are holding crisis talks as the United States piles pressure on the region to tap into its emergency stocks of diesel to cool surging prices – or face a possible ban on US exports of the fuel. European officials discussed measures to tackle high
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