&imwidth=800&imheight=600&format=webp&quality=medium "EU dismisses Trump’s diesel export curb threat; Macron urges G7 coordination on releasing reserves")
The European Union on Friday (October 2) rejected US threats to impose a ban on diesel exports as Washington pressures European countries to tap their strategic reserves to help bring down fuel prices.
"We fully reject any diesel ban. A ban would not be beneficial to anyone. It would undermine our trust in the United States as a reliable partner," European Commission spokeswoman Anna-Kaisa Itkonen said.
The development comes as the United States' war in Iran has sent energy prices higher, adding pressure on President Donald Trump at home as fuel costs remain a key issue ahead of next month's midterm congressional elections.
Brent crude crossed back above $100 per barrel and was trading at around $100.11. Meanwhile, US West Texas Intermediate crude futures rose more than 1% to around $91.97 to $92 per barrel.
EU considers fuel reserve release as prices rise
The 27-nation bloc was ready to work with the International Energy Agency on a possible release of fuel reserves to contain prices, Itkonen said.
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Her remarks came after crisis talks between EU member states and the European Commission as they sought to develop a unified response to the rising fuel prices.
Reports said the Trump administration wants France and Germany in particular to use their diesel stockpiles in an effort to curb prices.
EU trade chief Maroš Šefčovič had warned on Thursday that a US diesel export ban would have "dramatic consequences for our economic performance". He made the remarks on the sidelines of the G20 trade ministers gathering in Milwaukee.
Macron urges G7 coordination over diesel supplies
Earlier on Friday, French leader Emmanuel Macron spoke to Trump and urged G7 nations to work together on the issue while also opposing any diesel export ban.
"The president stressed that G7 countries had a common interest in acting in a coordinated way, without export restrictions," Macron's office said after his exchange with the US leader.
Paris planned to convene a video call of G7 leaders "as soon as possible" to ensure coordination. Brussels suggested that the talks could take place as early as Friday afternoon.
Trump had floated the possibility of banning US diesel exports on Wednesday. Diesel is used in trucks and other hauling vehicles, making the prospect a concern for the EU, which relies heavily on fossil fuel imports.
A US official, quoted by AFP, said, "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."
