On Friday, the European Union strongly resisted U.S. threats to ban diesel exports, amid Washington’s push for Europe to draw on its strategic reserves to ease fuel prices.
The U.S. confrontation with Iran has driven energy prices upward, creating a domestic headache for President Donald Trump as high fuel costs become a pivotal issue ahead of the upcoming midterm congressional elections.
“We fully reject any ban on diesel. A ban would not be beneficial to anyone. It would undermine our trust in the United States as a reliable partner,” European Commission spokeswoman Anna-Kaisa Itkonen said.
The 27‑member bloc said it stood ready to cooperate with the International Energy Agency on a potential release of fuel reserves to curb prices, she noted, after crisis talks among member states and the Commission aimed at forging a unified response.
Earlier on Friday, French President Emmanuel Macron spoke with President Trump, urging the G7 to cooperate on the issue while also opposing any diesel export ban.
“The president stressed that G7 nations share a common interest in coordinated action without export restrictions,” Macron’s office said following his conversation with the U.S. leader.
Macron will host a video conference with his G7 counterparts at 2:30 p.m. local time (12:30 p.m. GMT) to discuss possible measures for global crude and refined product markets, the Élysée Palace announced.
Brussels indicated the talks could occur as early as Friday afternoon.
The surge of diplomatic activity followed a day after U.S. Treasury Secretary Scott Bessent intensified pressure on European nations.
“Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions,” Bessent wrote on social media.
“American farmers, truckers, and businesses should not be left carrying the burden of a global diesel shortage,” he wrote.
Earlier this week, International Energy Agency Executive Director Fatih Birol noted that European nations have not yet released a portion of the stocks they pledged to unlock in March to ease prices.
“A significant portion of the stocks has been released, yet some remain, both in crude oil and refined products,” Birol told reporters on Tuesday after a meeting of EU energy ministers in Dublin.
‘Dramatic consequences’
In March, the 32 IEA member countries agreed to release 400 million barrels of oil from reserves—their largest coordinated release to date.
Birol said roughly one‑third of that amount has not yet reached the market, noting that further releases remain possible since about 80 percent of total IEA reserves are still untapped.
Diesel prices in the United States and Europe have surged to record highs, driven by the U.S.–Iran confrontation and exacerbated by Ukrainian strikes on Russian energy infrastructure.
The issue has become a significant liability for Trump’s Republican Party ahead of the midterm elections, putting control of Congress at risk.
On Wednesday, President Trump raised the prospect of banning U.S. diesel exports—a move that alarms the EU, which depends heavily on imported fossil fuels for trucks and other heavy‑duty vehicles.
EU Trade Commissioner Maros Šefčović told reporters on the margins of the G20 trade ministers’ meeting in Milwaukee that such a ban would have “dramatic consequences for our economic performance.”
Reports indicate the Trump administration is urging France and Germany specifically to draw on their diesel stockpiles to help lower prices.
“It is in Europe’s best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers,” a US official told AFP.
At the G20 trade talks, U.S. Trade Representative Jamieson Greer adopted a conciliatory tone, noting an “eagerness on both sides to work together” on the diesel issue.
According to the American Automobile Association, average U.S. diesel prices have jumped more than 70 percent to $6.39 per gallon since the onset of the Iran conflict.
(FRANCE 24 with AFP)
