Trump threatens diesel export ban unless France and Germany release emergency reserves

The Trump administration has warned Germany and France to release emergency diesel inventories to help alleviate global fuel prices or risk facing a potential US export ban, according to sources familiar with the matter. This stern directive comes as US President Donald Trump evaluates the possibility of a diesel export ban to curb US fuel prices ahead of the November midterm elections.

The European Commission, along with representatives from Germany, France, Italy, Ireland, and the United Kingdom, convened a call on Thursday to discuss the potential release of diesel stocks, as reported by an EU official to Reuters. US officials have expressed frustration with both Germany and France for their failure to adhere to earlier agreements on releasing emergency oil and petroleum stocks, as previously reported by Reuters.

According to one source, an official from the US administration has urged Europe to collaborate in boosting the supply of refined products and lowering costs for consumers. Another source, based in a European capital, revealed that the US has requested the EU to release 120 million barrels of diesel within the next six months.

US Energy Secretary Chris Wright announced on Wednesday that the administration anticipates announcements soon from Europe regarding new diesel supplies. Wright noted that the US has lost diesel exports from the Middle East and China, highlighting the significant disruptions in the fuel market.

Germany's economy ministry and France's energy ministry did not immediately respond to inquiries for comment. However, an official at the Elysee Palace stated that French President Emmanuel Macron and Trump did not discuss the issue during their meeting at the UN General Assembly in New York last week. Nonetheless, Macron has vowed to convene a video conference with leaders of the G7 countries to address rising fuel prices and global availability of refined products, including coordinating the release of reserves alongside the International Energy Agency.