4 hrs ago
US Pressures France and Germany to Release Diesel Reserves
The United States wants France and Germany to release stored diesel fuel.
Officials believe this could increase fuel supplies and lower prices.
The request could involve up to 120 million barrels over six months.
The US has warned that it might restrict diesel exports if Europe does not help.
President Donald Trump is considering this export restriction.
The possible move comes before US midterm elections in November.
Europe depends more on US fuel after stopping Russian energy imports.
Conflicts and supply disruptions have also affected fuel shipments from the Middle East.
The United States urged France and Germany to release emergency diesel stocks, according to three sources.
Washington has asked the European Union to release up to 120 million barrels over six months, one European source said.
The Trump administration warned that failure to act could lead to restrictions on US diesel exports.
President Donald Trump is considering an export ban to increase domestic fuel supplies before November’s midterm elections.
Europe’s reliance on US fuel has grown following the EU’s ban on Russian energy imports and disruptions linked to Iran.
- Who
- The United States, France, Germany, the European Union, and the administration of President Donald Trump.
- What
- The United States is pressing France and Germany to release emergency diesel reserves and is considering restricting US diesel exports.
- Where
- The discussions concern fuel markets in the United States and Europe.
- When
- The request covers as much as six months, while the potential US export restriction is being considered ahead of November’s midterm elections.
- Why
- Washington says releasing reserves could increase refined-product supplies and reduce fuel costs for consumers.
Key facts
- Requested release
- Up to 120 million barrels of diesel
- Release period
- Six months
- Countries facing pressure
- France and Germany
- Potential US measure
- Restrictions or a ban on diesel exports
- Stated objective
- Increase refined-product supplies and lower fuel prices
- European supply context
- Europe has become more reliant on US fuel after the European Union banned Russian energy imports
- Additional disruption
- Fuel flows from the Middle East have been affected by supply disruptions linked to the US-Israeli conflict with Iran
Quotes
A US official
A US government official familiar with the discussions
“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.”
firstpost.com
Sources
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