Trump urges Europe: Open your strategic diesel reserves immediately to bring prices down

President Donald Trump said on Thursday that his administration “could” ask European countries to open their strategic diesel reserves, in an effort to curb the high fuel prices that the war with Iran has pushed to record levels, as AFP reports.

A few hours earlier, U.S. Treasury Secretary Scott Bessent had called on Europe to act “immediately”. “Our European partners must accelerate meeting existing commitments and make additional supplies available immediately to address ongoing disruptions,” Bessent wrote in a social media post, as AFP quotes him.

According to reports, the Trump administration is targeting France and Germany in particular to tap their diesel reserves. Washington’s pressure comes after Trump floated on Wednesday the idea of banning U.S. diesel exports — a measure that would have grave consequences for the European economy, as EU trade chief Maroš Šefčovič also acknowledged, calling such a move “unexpected” for Europeans and warning of its damaging effects on the economy.

EU member states will meet with the European Commission on Friday to discuss a coordinated response to the fuel price crisis, according to a Commission spokesperson. Meanwhile, at the G20 trade meetings in Milwaukee, U.S. Trade Representative Jamieson Greer struck a conciliatory tone, speaking of a “willingness on both sides to work together” on the diesel issue. High energy prices are becoming a serious threat to Republicans ahead of the November midterm elections, as AFP underlines.