US tells France and Germany to release diesel stocks or face US export ban, sources say

The Trump administration has informed Germany and France to release emergency diesel stocks to alleviate global fuel prices or face a potential US diesel export ban, according to three sources familiar with the matter. This development escalates pressure on Europe amid President Donald Trump's consideration of a diesel export ban to decrease US fuel prices before the November midterm elections.

US officials have expressed frustration with France and Germany for not fully adhering to earlier pledges to release emergency oil and petroleum reserves, as previously reported by Reuters.

A US official stated to Reuters that Europe's best course of action is to collaborate with the United States in pursuing multiple avenues to augment refined products' supply and lower costs for consumers. Another source based in Europe revealed that the US has requested the European Union to release 120 million barrels of diesel within the next six months.

Energy Secretary Chris Wright announced on Wednesday that the administration anticipates announcements from Europe regarding additional diesel supplies soon. He acknowledged that US fuel exports from the Middle East and China have been disrupted, contributing to the shortages.

Germany's economy ministry and France's energy ministry have not yet responded to inquiries. However, a French Elysee Palace official mentioned that President Emmanuel Macron and Trump did not discuss this issue during their meeting at the UN General Assembly in New York last week. Nonetheless, Macron plans to convene a video conference of G7 leaders to tackle rising fuel prices and the global availability of refined products, including coordinating reserve releases with the International Energy Agency.

Europe's reliance on US fuel has surged following the ban on Russian imports due to Russia's invasion of Ukraine and the US-Israeli war against Iran, which disrupted supplies from the Middle East.