The Trump administration has reportedly urged Germany and France to tap into their emergency diesel reserves, cautioning that the U.S. might limit its diesel exports if they don’t comply.
This development, highlighted by Reuters, coincides with President Trump’s considerations to restrict U.S. diesel exports as a means to lower fuel prices before the upcoming midterm elections in November.
According to a source in Europe, Washington is requesting the European Union to release around 120 million barrels of diesel from reserves over the next six months.
Energy Secretary Chris Wright suggested this approach as an alternative to implementing a full ban on U.S. diesel exports, according to reports from Politico.
European officials were in discussions on this matter, with a call involving the European Commission and representatives from Germany, France, Italy, Ireland, and Britain regarding the potential release of diesel stocks.
A Trump administration official commented, “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.”
Reports have indicated that the U.S. believes Germany and France have not fully upheld commitments to decrease their emergency oil and petroleum reserves.
Wright expressed expectations that Europe would soon announce additional diesel supplies. He noted, “We’ve lost some diesel exports from the Middle East, although we’re restoring those, and we’ve lost diesel exports from China.”
This situation has caused a lot of supply interruptions.
According to Politico, Germany, France, Italy, Spain, and Poland manage the largest reserves in the EU. With the bloc holding 315 million barrels total, the amount being requested by the Trump administration equals about a third of these reserves.
A French official stated that the issue of diesel reserves was not discussed during Trump’s recent meeting with French President Emmanuel Macron at the UN General Assembly in New York.
The official added that Macron plans to convene G7 leaders via video to tackle rising fuel prices and global supplies of refined products.
The upcoming discussions will also focus on coordinating reserve releases with the International Energy Agency.
Last week, the U.S. reached out to a significant European nation regarding diesel, as a senior European official shared with Politico.
They described the outreach as somewhat speculative: “What do you think about Europe releasing some of the reserves to decrease prices, put pressure on supplies? It could also help our government avoid continued discussion on the export ban.”
Since banning Russian imports post-invasion of Ukraine and amid disruptions in Middle Eastern supplies due to the U.S.-Israeli conflict with Iran, Europe has increasingly leaned on U.S. fuel.
Germany’s economic ministry did not provide an immediate response to requests for comment, and the French ministry opted not to comment.
