
Reuters report... Trump administration puts pressure on Europe to stabilize domestic fuel prices
AI-generated summary
About 30 member countries of the International Energy Agency (IEA) agreed in March to release 400 million barrels of strategic oil reserves to stabilize oil prices.
(Seoul = Yonhap News) Reporter Kim A-ram = Reuters reported on the 1st (local time) that the U.S. Donald Trump administration has pressured France and Germany to release their stockpile of diesel oil and warned that exports of American diesel could be banned if they do not do so.
This is a measure that will further increase pressure on Europe as President Trump is considering banning diesel exports to lower domestic fuel prices ahead of the U.S. midterm elections in November.
One European source reported that the United States has requested the European Union (EU) to release 120 million barrels of diesel over the next six months.
Last March, about 30 member countries of the International Energy Agency (IEA) agreed to release 400 million barrels of strategic oil reserves to stabilize oil prices. The United States was responsible for 172 million barrels, and European countries accounted for 20% of the total.
However, the U.S. government is said to have been dissatisfied with France and Germany, especially because they believed that they had not properly fulfilled their promises to release oil reserves.
An official at France's Elysee Palace said that President Emmanuel Macron and President Trump did not discuss this issue at the meeting held on the sidelines of the United Nations General Assembly last week.
However, the official said that President Macron plans to convene a video conference of the leaders of the G7 to discuss energy prices and supply and demand issues, including coordination of joint release of oil reserves with the IEA.
The German Economy Ministry did not immediately respond to Reuters' request for comment, and the French Energy Ministry declined to comment.
Europe's dependence on American fuel has increased as it has banned the import of Russian crude oil and petroleum products, and has suffered supply disruptions from the Middle East due to the recent war.
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