Trump dismisses diesel export ban after Europe agrees to release reserves
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President Donald Trump said a U.S. diesel export ban was never under serious consideration after European countries announced they would draw from strategic fuel reserves.
President Donald Trump announced on Friday that a ban on diesel exports from the United States will not be implemented, saying the idea was never seriously considered. The comment came after European governments agreed to release diesel from their strategic stockpiles.
Trump told reporters as he left the White House that Europe has ample diesel supplies and that both the continent and the United States will continue to contribute to global markets. He added that Europe’s decision to tap its reserves was “a great thing.”
Earlier in the week, the president had indicated openness to suspending diesel exports, a move that would have marked the first restriction on U.S. energy exports since the 2015 lifting of the oil export ban. Energy Secretary Chris Wright and industry representatives warned that such a ban could disrupt foreign economies reliant on U.S. fuel and potentially raise domestic gasoline prices.
Instead, U.S. officials urged European nations to draw down their reserves. The G-7 announced on Friday that it would release 100 million barrels of diesel and crude oil from strategic reserves over the next four months, with a substantial diesel release planned within the first 20 days.
According to a report, U.S. officials pressed European governments to act, and a European diplomat described the pressure as “blackmail.” Trump said he had asked Europe to make the fuel available but maintained that the decision was made voluntarily.
The administration may consider additional steps to address diesel prices, such as encouraging states to lift restrictions on off-road diesel or suspending excise taxes, according to sources familiar with the discussions.