US tells France and Germany to release diesel stocks or face US export ban: Report
- 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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French officials proposed a large-scale use of strategic oil and diesel reserves during emergency talks on Friday, following a US threat that European countries would face a fuel export ban if they did not release the reserves, Politico reports.
As Donald Trump presses Europe to release oil reserves, the US is sending a third aircraft carrier to Iran. The development raises concerns that high energy prices could take hold.
Washington. The U.S. government urged Germany and France to reduce their emergency diesel reserves to help moderate global prices, and amassed a possible ban on diesel exports, said three people close to the negotiations.
Because of the high fuel prices, the White House calls for Europe to release market reserves. Berlin reacts cautiously, but the US has a powerful leverage.
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US Pressures Europe to Release Diesel Reserves amid Price Hikes
US President Donald Trump said his administration may ask European countries to release some of their emergency diesel reserves as diesel prices continue to rise ... The post US Pressures Europe to Release Diesel Reserves amid Price Hikes first appeared on [your]NEWS.
Trump urgently needs peace and cheap diesel before the midterms. Now he puts pressure on Europe and threatens to stop exports.
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