Jens Asbjørn Bøgen
Trump denies the situation in the Middle East is to blame for the rise in fuel prices
Washington has delivered a sharp warning to its key Western allies.
According to Reuters, the Trump administration told France and Germany to tap into their emergency diesel stockpiles or face a potential ban on American diesel exports.
The warning comes as US officials hunt for ways to bring down domestic fuel costs ahead of November’s midterm elections. White House officials are reportedly growing increasingly frustrated with European partners, as they believe Berlin and Paris failed to honor earlier pledges to release emergency petroleum supplies.
One US official made the position clear to Reuters. “It is in Europe’s best interest to work with the United States as we pursue multiple pathways to boost the supply of refined products and lower costs for consumers,” the official said.
European officials are taking the threat seriously. A European diplomatic source revealed that Washington wants the European Union to release 120 million barrels of diesel over the next six months.
On Thursday, top officials from Britain, Italy, Ireland, France, Germany, and the European Commission held an urgent call to weigh their options.
Global supply strains
Global fuel networks are already stretched to their limit. European nations rely heavily on shipments from across the Atlantic after banning Russian fuel following the invasion of Ukraine.
The war in Iran has disrupted vital Middle Eastern trade routes too.
Speaking to reporters on Wednesday, US Energy Secretary Chris Wright noted that global markets are suffering from widespread trade bottlenecks.
“We’ve lost some diesel exports from the Middle East, although we’re restoring those, and we’ve lost diesel exports from China,” he said. “So that’s a lot of interruptions.”
An official at the Elysee Palace confirmed to Reuters that French President Emmanuel Macron plans to host a video conference with G7 leaders.
The meeting will focus on stabilizing fuel supplies and coordinating stockpile releases alongside the International Energy Agency.
Trump blaming Ukraine
Fuel prices have skyrocketed since the beginning of the war in Iran, but Trump has denied that the situation in the Middle East is the reason for the increased cost of oil.
Instead he is blaming Ukraine’s long-range campaign targeting Russian oil and energy infrastructure.
“You know, diesel is really hurt much more, not by the Middle East, but by what’s going on in Russia, because those diesel refineries are being knocked out at a pretty alarming rate,” Trump said in a White House broadcast on Wednesday, September 30.
