Trump Signals Export Ban Amid Diesel Shortage, Urges Europe to Release Reserves
US President Donald Trump is considering banning diesel exports from the United States amid a diesel shortage. He has urged European countries to release some of their reserves, warning against shifting the burden of rising prices onto American farmers, truckers, and businesses. Experts caution that an export ban could further pressure prices in other countries.
US President Donald Trump has signaled that he is considering banning diesel exports from the United States amid a diesel shortage. He said he may ask European countries to release some of their diesel reserves.
The comment came after US Treasury Secretary Scott Bessent urged Europe to maintain such reserves and release them if necessary. Bessent said, "The burden of rising prices should not be placed on American farmers, truckers, and businesses."
Amid rising prices due to the war with Iran, the US has threatened to ban diesel exports. The issue is important for American voters ahead of the US midterm elections.
On Thursday, the UK held talks with European partners about releasing diesel reserves in the event of a potential ban. The US is the world's leading supplier of diesel, exporting 1.2 million to 1.5 million barrels per day.
Experts have warned that restricting diesel supplies abroad could put additional pressure on prices in other countries. –Agency