EU Rejects Trump Threat to Ban Diesel Exports
The European Union rejected a Trump threat on Friday. President Donald Trump threatened to ban US diesel exports.
The ban would happen unless the 27-member group released more fuel stocks. France 24 and the Financial Times reported the story.
The Financial Times said the EU was considering releasing 50 million barrels. This came under pressure from Trump.
But the release was not agreed. A French plan was under discussion on Friday.
It includes a possible 50 million barrels of EU diesel stocks. Separately the International Energy Agency's members would add 50 million barrels of crude.
EU countries also discussed asking the US not to ban exports alone. Reports link the pressure to efforts to ease surging fuel prices.
Klear Note — Fuel stocks are stored supplies that can be released into markets.
Key Terms 3
- International Energy Agency A group of countries that works together on oil and energy supplies.
- crude Crude is oil taken from the ground before it is made into fuel.
- diesel A fuel used by trucks, trains, buses and many machines.