EU sharply criticizes possible US plans to ban diesel exports

The European Union on Friday sharply criticized signals from Washington about a possible ban on diesel fuel exports, as well as US calls for European allies to begin drawing down their strategic diesel reserves.

Background

The US plans emerged as a response to rising fuel prices on global markets. Washington has indicated that one possible solution to the problem could be introducing export restrictions, meaning US-produced diesel would no longer be sold to foreign markets at previous volumes.

At the same time, the US side has urged European allied nations to begin using their accumulated strategic fuel reserves in order to ease pressure on domestic markets and limit price increases.

EU's position

The European Union responded negatively to these proposals, sharply criticizing both the idea of an export ban and the call to tap strategic reserves. Such a move by the US would be seen as problematic for Europe's fuel supply security, given that some European countries depend on imported diesel to meet domestic consumption needs.

Further details on upcoming talks between the EU and the US on this matter are not yet known.