European countries discussed releasing emergency diesel stocks on Friday as Washington pressed allies to supply more fuel, but EU capitals still control whether their national reserves are tapped. A French proposal under discussion called for European countries to release 50 million barrels of diesel and International Energy Agency members to release 50 million barrels of crude oil.
The proposed European diesel release equals about 17% of the EU’s emergency diesel and gasoil stocks, based on Eurostat data current as of May 2025, and around 3% of the bloc’s annual fuel consumption. EU Energy Commissioner Dan Jørgensen said a release of strategic reserves was “a possibility.”
National reserves, EU coordination
EU countries and the European Commission met on Friday through the Commission’s crisis-monitoring and coordination table for energy security. The forum assesses whether disruptions threaten supplies and what coordinated action may be needed. A source said representatives from France, Germany, Ireland and the UK had spoken with the Commission on Oct. 1, ahead of Friday’s technical meeting.
Ireland, which holds the rotating presidency of the Council of the EU, confirmed the meeting. A spokesperson for Ireland’s Department of Climate, Energy and the Environment described the diesel market as “very tight.” Ireland, the spokesperson said, was coordinating with EU countries, the Commission and the IEA to “take stock of the situation” and “examine appropriate measures.”
Jørgensen said EU countries were discussing a coordinated release through the Paris-based IEA. “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. We've used it before, and we'll likely use it again,” he told Europe Today on Thursday. EU capitals retain the final say over national stockpiles.
Washington’s pressure and the G7 deal
U.S. Treasury Secretary Scott Bessent urged Europe to make additional supplies available “immediately.” He wrote on X: “Our European partners should accelerate delivery on their existing commitments and make additional supplies immediately available to address ongoing disruptions.” EU diplomats speaking anonymously called Washington’s tone “rough.” They said it was not sending “gentle diplomatic messages.”
The United States was considering a potential 90-day diesel export ban. Reuters reported that the administration had told Germany and France to draw down emergency inventories or face a possible ban; one source said Washington had demanded 100 million barrels of diesel from major European countries, including France and Germany, within a 20-day window.
The European Commission rejected an export ban. Spokeswoman Anna-Kaisa Itkonen said: “We fully reject any ban on diesel. A ban would not be beneficial to anyone. It would undermine our trust in the United States as a reliable partner.” One Reuters source said EU countries discussed making a diesel-stock agreement conditional on a U.S. commitment not to impose a unilateral export ban.
A G7 agreement later provided for the release of 100 million barrels of diesel and crude oil from reserves over four months. It called for a substantial diesel release front-loaded within the first 20 days. The seven countries said they would “refrain from export restrictions on energy” between them. The group comprises Britain, Japan, Canada, Germany, France, Italy and the United States.
Energy costs and national budgets
The Iran war, reduced refining capacity and supply disruptions have driven fuel prices higher. Russia’s export ban after Ukraine damaged many Russian refineries, while Chinese refiners’ suspension of October fuel exports also affected global diesel supply. Europe, once mainly reliant on Russian and Middle Eastern diesel imports, had increasingly turned to U.S. imports in recent years.
Italian Prime Minister Giorgia Meloni asked the European Commission for more room under EU fiscal rules to shield households and businesses from higher energy costs. In a letter to European Commission President Ursula von der Leyen, she said oil prices had risen almost 80% and gas prices up to 156%. Meloni argued that the agreed spending paths left limited room for relief without tightening measures. She asked Brussels to allow some additional revenue to fund “temporary and targeted measures,” and requested discussion of the issue at the finance ministers’ meeting in Brussels on Oct. 9.
Finnish central bank chief Olli Rehn said energy prices were nearing the European Central Bank’s “adverse” scenario. Inflation had risen well past 3% in recent months and could approach 4% by year-end, twice the ECB’s target. “Higher energy prices bring us closer to the ECB's adverse scenario in terms of inflation,” Rehn said. He warned that higher long-term interest rates could slow growth and limit the shock’s spread to other prices and wages.