EU Warns US Diesel Export Ban Could Hurt Both Sides
The European Union has expressed concern over a proposed restriction on US diesel exports, stating that such a ban could have detrimental effects on both the United States and the European market.
European Commission spokesman, Olof Gill, cautioned against the idea during a press briefing, adding that Brussels had communicated its worries to US officials at the highest level.
Gill stated, "We believe this is a bad idea. We believe it potentially can have a negative impact on both sides."
The concerns arise amid rising energy costs linked to the Middle East conflict, which are putting added pressure on American consumers. Europe is particularly vulnerable to changes in global fuel supplies due to its heavy reliance on imports to fulfill its diesel demand.
According to the European Commission's analysis of member-state data, the average retail price of diesel across the EU's 27 countries reached a record €2.23 per litre. The United States has emerged as a significant supplier to the European market. Commission figures indicate that US shipments accounted for approximately 50% of the bloc's diesel imports in August.
Spokesman Gill urged Washington to consult with its European partners prior to implementing measures that could impact shared markets. He said, "We expect close partners to consult each other before taking measures that affect shared markets."
EU Warns US on Diesel Export Ban
- The European Union has cautioned against a potential ban on US diesel exports, asserting that such a move could have detrimental effects on both the United States and the European market.
- The warning comes amid rising energy costs linked to the Middle East conflict, which is putting additional pressure on American consumers.
- Europe is particularly vulnerable to changes in global fuel supplies due to its heavy reliance on imports to fulfill its diesel demand.
- According to the European Commission's analysis of member-state data, the average retail price of diesel in the EU's 27 countries reached a record €2.23 per litre.
- US shipments accounted for approximately 50% of the bloc's diesel imports in August.
- European Commission spokesman Olof Gill urged Washington to consult with its European partners before implementing measures that could impact shared markets.
<small>Source: Daily Post Nigeria — read the original story there.</small>
