US Pressures Europe Over Diesel Reserves as Trump Threatens Export Ban

President Donald Trump has threatened to ban diesel exports from the United States, putting pressure on European nations to release their strategic fuel reserves as global prices hit record highs. The move comes ahead of crucial November midterm elections, with soaring fuel costs a top concern for American voters.

Europe Urged to Act Immediately

Treasury Secretary Scott Bessent called on European countries to immediately release diesel reserves, arguing that US farmers, truckers, and businesses should not bear the burden of global shortages alone. UK Energy Minister Martin McCluskey joined European counterparts in talks to coordinate a response. The US exports between 1.2 and 1.5 million barrels of diesel per day, making it a vital global supplier.

Record Prices and Global Disruption

Diesel prices in the UK have hit all-time highs, with average pump prices reaching 199.79p per litre. Fuel costs have surged since the outbreak of the US-Israel war with Iran in February, which led to the closure of the Strait of Hormuz. An additional Russian export ban has compounded pressure on global supplies. Economists warn that a US export ban could cause international prices to skyrocket further.