EU weighs diesel reserve release, as US piles on the pressure

The Trump administration is pressing European governments to help bring down soaring fuel prices, by releasing more of its emergency diesel stocks.

Washington has proposed that European countries release around 120 million barrels of diesel over 180 days, representing a substantial share of EU emergency diesel stocks. Washington has approached Germany and France, and the US has also raised the possibility of restricting diesel exports if Europe does not release more reserves. 

Commission spokesperson Anna-Kaisa Itkonen said a ban would not be beneficial to anyone: “It would undermine our trust in the United States as a reliable partner. The European Union is ready for collective action in the context of the International Energy Agency. It is their role to organize possible stock releases.” She said that there was a coordination meeting, the Energy Union Task Force this morning between the Commission and our member states, and we will now wait for the next steps, adding that there may be a further meeting this afternoon.

In a readout from this morning’s meeting, leaders said they are considering the possible release of 50 million barrels.

EU Energy Commissioner Dan Jørgensen had already confirmed that another release is under discussion. “We are discussing with all members of the International Energy Agency (IEA), not only the United States, when the right time is to release, because this is one of the opportunities that we have,” he told Euronews. “We've used it before, and we'll likely use it again.”

But the Commission spokesperson has been careful to make it clear that it only acts as a coordinator. An International Energy Agency (IEA) recommendation for an international stock release is voluntary, with individual member states deciding whether to participate. The Commission coordinates EU positions through the Oil Coordination Group, the same procedure used for a strategic release earlier this year, in April.

The EU requires member states to maintain emergency oil stocks, but does not prescribe how much must be held as crude oil or individual products such as petrol, kerosene, jet fuel or diesel. That product mix is left to member states.

This complicates Washington’s call for a large diesel release. The Commission has also drawn an important distinction between high prices and an actual shortage. Following this week’s Oil Coordination Group meeting, officials said emergency stocks remained high and that there was currently no concrete shortage of diesel in the EU.

Itkonen described the current situation as an affordability crisis: energy prices are extremely high, but Europe is not facing a physical supply crisis. A genuine security-of-supply emergency, where a member state could no longer obtain sufficient fuel, would be different and could activate EU crisis and regional solidarity measures.

Itkonen said the Commission is meanwhile maintaining high-level contacts with Washington and coordinating national positions through the IEA. The Oil Coordination Group is scheduled to meet again on October 15, although Brussels says an ad hoc meeting could be called sooner if necessary. Commission officials said there were “lots of phone calls” and meetings taking place with member states and the US administration.

According to France 24, EU trade chief Maroš Šefčovič speaking to reporters on the sidelines of the G20 trade ministers’ meeting in Milwaukee,  said he had discussed tight diesel supplies and rising prices with US Trade Representative Jamieson Greer. Šefčovič called for a coordinated transatlantic approach to lowering prices and warned that any US move to restrict diesel exports could have detrimental effects on the European economy. He said the two sides had agreed to remain in close contact to “avoid any surprises”, while stressing their shared interest in bringing down diesel and other energy prices.

The US pressure comes as Trump heads towards November’s congressional mid-term elections with a sharp downturn in his poll ratings and voter concerns over high living costs. Rising fuel prices have added to those pressures, while polling has also shown significant public dissatisfaction with his handling of the war against Iran.

At 16:00 Trump said on Truth Social that Europe has "just agreed to release a massive amount of their heavily stocked Diesel Oil. The process will begin immediately. Thank you for your attention to this matter! President DJT"

Trump and von der Leyen shake hands Photographer: Fred Guerdin © European Union, 2025

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