Key facts
- EU officials are confident that U.S. President Donald Trump will drop his threat to ban diesel exports.
- Irish Energy Minister Darragh O'Brien cited assurances from U.S. administration officials that the ban is unlikely.
- A 90-day diesel ban would significantly impact the EU, with U.S. diesel accounting for over 50% of the EU's imports.
- U.S. diesel accounts for 10% of the EU's total consumption.
- Trump had previously appeared to endorse blocking diesel exports amid rising prices.
- The rising prices are attributed to the war in Iran and Russian export restrictions.
Senior EU officials expressed cautious optimism on Tuesday that U.S. President Donald Trump would abandon his threat to temporarily ban diesel exports, a move that could have significantly impacted European energy markets. Irish Energy Minister Darragh O'Brien, whose government holds the EU's rotating presidency, told reporters in Dublin that he had received assurances from Trump administration officials last week that the ban was unlikely to proceed.
"From the information that I was able to glean in D.C. last week, there doesn't seem to be a push to do that," O'Brien said, acknowledging that "any 90-day diesel ban would have distinct impact on us in the EU." He added that "when you talk to others around the administration as well, it doesn't look like that's something that would happen. I think there would be an impact for the United States themselves, the diesel ban, as well as the impact on other fuels."
EU energy chief Dan Jørgensen echoed this sentiment at the same summit, stating he was "happy" to see public comments by U.S. Energy Secretary Chris Wright, who indicated that a diesel ban wouldn't be effective. Trump had earlier this month appeared to endorse the idea of temporarily blocking diesel exports amid rising prices, which have been exacerbated by the war in Iran and Russia's restrictions on its own exports following Ukrainian strikes on refineries.
According to S&P Global Energy, U.S. diesel accounts for over 50 percent of the EU's diesel imports and 10 percent of its consumption. O'Brien stressed that the EU would not be complacent about the situation.