EU Warns US Diesel Export Ban Could Hurt Both Sides
The European Union has criticised a possible US ban on diesel exports, with the European Commission warning that the move could negatively affect both sides of the Atlantic.
Commission spokesman Olof Gill said Brussels viewed the proposal with concern and had raised the issue with US officials at the highest level. He said the EU expected close partners to consult each other before taking measures affecting shared markets.
The comments came after US President Donald Trump backed the idea of restricting US diesel exports as fuel prices surge amid disruptions linked to conflicts in the Middle East and Ukraine. However, a White House official on September 23 denied that the US was preparing a 90-day diesel export ban, while Energy Secretary Chris Wright said a flat ban was not being considered.
Europe is particularly exposed because of its reliance on imported diesel. The European Commission said the US accounted for about half of the EU's diesel imports in August, while diesel prices across the 27-member bloc have reached record levels.
The European Commission said the issue would be discussed further through its oil coordination process as it assesses potential impacts on European fuel supplies.
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