EU rejects potential US diesel export ban, warns of trust damage

  • European Commission rejects a potential US ban on diesel exports.
  • Gas prices rose 140% and diesel prices doubled since the end of February.
  • EU countries coordinated positions through an Energy Union Task Force meeting on Friday.

The European Commission rejected any potential US ban on diesel exports, warning that the measure would benefit no one and could weaken the European Union's trust in the United States as a reliable partner. European Commission spokesperson Anna-Kaisa Itkonen said the EU was prepared to coordinate collectively through the International Energy Agency (IEA), which she said would organize any possible release of oil stocks. The bloc's role, she said, was to coordinate member states' positions within the IEA rather than decide independently to release reserves. The comments followed US President Donald Trump's statement that he might ask European countries to release diesel reserves as his administration considers restricting US diesel exports amid pressure on global refined-fuel supplies. EU member states coordinated their positions at an Energy Union Task Force meeting on Friday, while discussions with international partners continued. Itkonen said the EU would remain united on further steps but declined to say whether it was considering retaliatory measures against Washington. The EU sees no immediate security-of-supply problem because oil supplies are currently stable, she said, but high energy prices are creating an affordability crisis for households and industry. Paula Pinho said France, which holds the G7 presidency this year, plans to convene a video conference of G7 leaders as soon as possible to coordinate measures addressing energy-price pressures and securing crude oil and refined-product supplies. EU coordination groups have monitored energy markets closely for months. Gas prices in Europe have risen 140% since the end of February, when the US and Iran launched their war on Iran, while diesel prices have doubled.

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