EU Holds Emergency Talks as US Pressures Allies to Release Diesel Reserves

European officials and the European Commission held talks to coordinate a response to Washington's demand to release around 120 million barrels of diesel stockpiles.

Five European countries and the European Commission held emergency consultations regarding Washington's demand that European nations tap their emergency stockpiles and release approximately 120 million barrels of diesel, Hungarian news site Portfolio.hu reported. According to the report, the US administration threatened to curb American diesel exports if Europe does not comply.

According to Portfolio.hu and German newspaper Handelsblatt, European officials agreed to coordinate their response through the International Energy Agency and seek closer alignment with Washington to prevent an export ban. The economic stakes remain acute, as more than half of the European Union's diesel imports originate in the United States amid tightening global fuel supplies and rising prices.