Europe may tap into diesel reserves amid US pressure
European Union countries discussed a French proposal to withdraw 50 million barrels from diesel stocks, in response to American pressure to lower fuel prices, following threats of export bans and concerns over supply shortages caused by crises and wars. The United States is demanding that Europe withdraw 100 million barrels of emergency diesel within 20 days, aiming to ease rising prices ahead of the US midterm elections. This comes amid global diesel supply disruptions due to Iran's war, a Russian export ban, and Chinese refineries halting exports, with G7 leaders exploring joint measures to ensure supply stability.
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