White House urges EU to draw down diesel inventories, sources say
The administration is weighing a diesel export ban and other steps as prices hit record highs and pressure builds on farmers and truckers.
- The Trump administration urged Germany and France to release emergency diesel reserves or risk a potential U.S. diesel export ban, according to three people familiar with the discussions.
- The European Commission, Germany, France, Italy, Ireland, and Britain held talks about possibly releasing diesel stocks, according to an EU official.
- A European source said the United States asked the European Union to release 120 million barrels of diesel over six months.
- French President Emmanuel Macron planned a G7 video conference on fuel prices and coordinating reserve releases with the International Energy Agency.
113 Articles
113 Articles
Greer Pushes Europe on Diesel Release as He Hosts G20 Partners
President Donald Trump’s top trade adviser is pressing European allies to release some diesel reserves, amid a surge in the fuel’s price, saying he had discussed the matter with his French counterpart and would raise it with other nations at a Group of 20 meeting.
The Midterm is one month away and the gas oil in the US is hitting new records. To bring down the price, Washington immediately demands from the EU a massive release of reserves, equal to 120 million barrels. If it does not threaten to block American exports, which is added to that of Russia and part of China. The demand is huge, and exceeds the stocks of France and Germany (40% of the European total)
The US President's government, Donald Trump, pressured Germany and France to release emergency diesel stocks to help reduce global fuel prices, under the threat of banning US exports of the product, said three people close to the discussions. The alert represents an escalation of pressure on Europe at the time Trump assesses a possible ban on diesel exports to reduce fuel prices on the US market before the November mid-term legislative elections.
<p>US threatens to restrict diesel exports: EU decides whether to use reserves The US has called on the EU to release more than 40% of diesel reserves in six months. France and Germany have the largest stocks in the bloc.</p>
The Commission spokeswoman confirmed that there are high-level contacts with the US government regarding the release of diesel stocks or addressing possible export restrictions. She underlined the importance of tomorrow's meeting of the International Energy Agency, noting that the Commission is preparing for the next steps. As she explained, the Commission's role is to coordinate member states in cooperation with the International Energy Agency,…
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