US President Donald Trump confirmed on Friday (Oct 2) that Washington will not impose a ban on diesel exports, while welcoming a decision by European nations to release fuel from their strategic reserves.

“Well, it was never really on the table. But what Europe did was a great thing,” Trump told an AFP reporter at the White House when asked whether a US export ban had been ruled out.

The president went on to say: “I asked for it. Europe has a lot of diesel and they’re going to be making a major world contribution — and so are we. And we’re not going to be doing the export ban, we’re going to be doing what we’re supposed to do.”

Trump had initially voiced support for a diesel export ban on September 22 — a move that would have lowered prices for American consumers but strained supplies in other parts of the world. As recently as Thursday, he said the idea remained under consideration as his administration pressured Europe to draw on its stockpiles.

On Friday, G7 nations reached an agreement to release 100 million barrels of diesel and crude oil from their reserves over a four-month period, aiming to calm global energy supply worries sparked by the Iran war.

With midterm elections approaching next month, Trump’s Republican Party risks losing its congressional majority, as voters express frustration over the conflict and its impact on energy costs.

Source: AFP/bg