European Commission rejects prospect of US diesel export ban

EU trade commissioner Maroš Šefčovič said on Thursday that he had discussed tight diesel supplies and high prices with US Trade Representative Jamieson Greer. Speaking on the sidelines of a G20 trade ministers’ meeting, Šefčovič said Europe wanted a coordinated approach with Washington to bring prices down. [1] [2]

The talks came as Reuters reported, citing three people close to the discussions, that the Trump administration had urged France and Germany to release emergency diesel stocks or face a possible US ban on diesel exports. Greer separately said he was discussing European reserve releases with some of his trade counterparts. [6] [4]

Šefčovič said a US export ban would be unexpected and could have dramatic consequences for Europe’s economy. He said the two sides had agreed to stay in close contact, although they had not discussed energy exports in detail. [3]

The European Commission said EU oil supplies remained stable despite high diesel prices, and said on Thursday that there was no diesel shortage across the EU. Germany’s economy ministry said the International Energy Agency had not asked it to release strategic oil reserves. [8] [10] [7]

The EU’s energy taskforce, which includes the Commission and all 27 member states, is due to discuss the situation on Friday. [6]

Update

The European Commission has rejected the prospect of a US ban on diesel exports. ANP reported that a Commission spokesperson said a ban would benefit nobody and would undermine trust in the US as a reliable partner. She said the EU was ready to work with the International Energy Agency (IEA) on a possible release of reserves.