Gill declined to share details on the content of the diplomatic talks but said “there are strong voices — also there — that believe any proposed ban of this nature would be a very bad idea indeed.”
The EU’s imports of U.S. diesel have increased in recent months to make up for imports lost due to the conflict in the Middle East, and the bloc currently imports more than half of its diesel from America. Prices and supply have been further affected by strikes on Russian oil refineries.
The United States is now the world’s largest exporter of diesel and has been setting new records for exports this year, according to ClearView Energy. Taking that supply out of global markets would have far-reaching effects on the European and global economy.
“Given the precarious situation that Europe currently finds itself in, any further restrictions on fuels available to the EU at this stage could quickly become very serious,” said a person in the industry who closely follows the market situation and was granted anonymity to discuss the sensitive situation openly.
The planned ban, first reported by POLITICO, would last 90 days amid growing domestic concerns over rising fuel prices. However, the move has drawn vociferous opposition from the U.S. oil sector, which has warned the ban would significantly tighten global supply. Trump’s energy secretary, Chris Wright, also opposes the ban.
Anna-Kaisa Itkonen, a Commission spokesperson, added that Brussels was “monitoring the markets and security of supply very, very closely, together with our member states.” She said the EU was a “big U.S. diesel importer” and remains a “solid and attractive market to the United States.”
