EU warns US diesel export ban could hurt both sides

The European Union has expressed its disapproval of a proposed US policy aiming to limit diesel exports, asserting that such a restriction could negatively impact both American and European markets. European Commission spokesperson Olof Gill warned reporters about the potential downsides of the proposal on Thursday, especially considering the current high fuel prices in both regions.

Gill emphasized that the European Commission had raised its concerns with US officials at the highest level and reiterated their opinion that the measure might have a detrimental effect on both parties. This statement followed Trump's endorsement of a possible restriction on US diesel exports due to escalating energy costs stemming from the Middle East conflict, which has further burdened American consumers.

Europe is particularly vulnerable to fluctuations in global fuel supplies, as the bloc heavily relies on imports to satisfy its diesel needs. According to the European Commission's analysis of member-state data, the average retail price of diesel across the EU's 27 countries hit a record high of €2.23 per litre. In August, US shipments made up roughly 50 percent of the EU's diesel imports.

Gill urged the United States to engage in consultations with its European counterparts before enacting measures that could affect shared fuel markets. He stressed that close partners should always seek each other's input before implementing actions that might impact interconnected fuel markets.