Brussels rejects US pressure to release diesel reserves

Brussels, October 2 (CTK correspondent) - The European Union categorically rejects threats from the United States to ban diesel exports if Europe does not release some of its fuel reserves, European Commission spokesperson Anna-Kaisa Itkonen said today. French President Emmanuel Macron will chair a videoconference of G7 leaders today at 14:30 to discuss measures in global markets for oil and petroleum products.

The administration of US President Donald Trump urged Germany and France to help bring down global fuel prices by releasing diesel from emergency reserves. It threatened that otherwise the countries could face a ban on diesel exports from the US, Reuters reported on Thursday.

"An export ban would benefit no one. It would undermine our trust in the United States as a reliable partner," the EC spokesperson told reporters.

"The European Union is ready to coordinate action through the International Energy Agency. Its role is to organise any release of reserves," she added. The next meeting of the so-called Oil Coordination Group, which monitors the situation in this area, is scheduled for October 15, but could be held earlier if necessary, she said.

Diesel prices have risen sharply recently in the United States, Europe and elsewhere as a result of military conflicts. Trump backed the idea of an export ban on Tuesday in an effort to lower the price of the fuel on the US market. Treasury Secretary Scott Bessent said the Trump administration was examining the option. The EU responded by saying it was concerned by the US plan.

Reports subsequently emerged that the Trump administration had urged Germany and France to help ease global fuel prices by releasing diesel from emergency reserves. It threatened that otherwise the countries could face a ban on diesel exports from the United States.

According to Reuters sources, Washington is asking the entire European Union to release 120 million barrels of diesel over the next six months. Germany's Economy Ministry said the International Energy Agency (IEA) had not asked it to take such a step. European Commissioner for Trade Maroš Šefčovič said the EU was seeking coordinated action with the United States to bring down diesel prices.