US Urges European Allies to Tap Diesel Reserves Amid Export Ban Threats

The United States on Thursday pressed its European allies to release strategic diesel reserves immediately in a bid to cool surging global fuel prices, with European Union member states scheduled to discuss a coordinated response on Friday.

According to reports, the Trump administration has specifically called on France and Germany to draw from their stockpiles to counteract price spikes driven by the conflict with Iran. “Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions,” U.S. Treasury Secretary Scott Bessent posted on social media.

A European Commission spokesman confirmed that member states would meet Friday to formulate a joint response to the escalating fuel costs. Washington is intensifying pressure for European cooperation, with President Donald Trump floating the possibility of a U.S. diesel export ban on Wednesday.

Rising energy costs pose a significant political risk for the Republican Party ahead of next month’s midterm elections. “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 U.S. official told AFP.

At G20 trade talks in Milwaukee, U.S. Trade Representative Jamieson Greer adopted a conciliatory tone, noting an “eagerness on both sides to work together” on the diesel issue. Speaking in Texas on Thursday, Trump said he “may” request that European nations release reserves.

‘Unexpected’ Move

EU Trade Chief Maroš Šefčovič told reporters Thursday that any U.S. move to ban diesel exports would be “unexpected for Europeans.” He spoke on the sidelines of the two-day G20 trade ministers’ gathering in Milwaukee following a meeting with Greer.

Šefčovič said he did not discuss energy exports in detail with Greer but emphasized that transatlantic partners “decided to stay in close touch to avoid any surprises here.” He warned that an export ban would have “very dramatic consequences for our economic performance.”

France’s Minister Delegate for International Trade, Nicolas Forissier, told AFP in Milwaukee: “I can’t imagine that there will be a ban.” He underscored diesel’s critical importance to both economies and said both sides would “try to find solutions.”

“In France, we’ll try to find balanced solutions all over the world,” Forissier added. “If not with the Americans, it will be with other countries.”

On Wednesday, Trump said he was still weighing a potential ban on U.S. diesel exports, acknowledging it could ultimately drive up gasoline prices. “I’m thinking about it,” he told reporters in the Oval Office.

Alongside Trump, U.S. Energy Secretary Chris Wright said the world would “hear announcements from our friends in Europe” aimed at pushing diesel prices down. When asked about a release from strategic reserves, the French presidency stated no such demand was made during a meeting between President Emmanuel Macron and Trump at the UN General Assembly last week.

Macron is also set to convene a video conference of G7 leaders “to make progress on the various levers that can be used to address the rising fuel prices… including coordination on releasing reserves,” according to his office. The G7 meeting is expected in mid-October.

Average U.S. diesel prices have surged more than 70 percent to $6.39 a gallon since the onset of the Iran conflict, according to AAA data. The spike in fuel costs has driven up living expenses, fueling Republican fears of losing congressional control in the November midterms.

(FRANCE 24 with AFP)

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