The United States is pressing European allies to release diesel reserves or face a U.S. export ban, but EU capitals hold the decision on whether to open strategic stockpiles. EU Energy Commissioner Dan Jørgensen said a release to cushion soaring prices “is a possibility.” Households and businesses face higher costs as governments weigh a coordinated response through the International Energy Agency.
“We've used it before, and we'll likely use it again,” Jørgensen told Euronews’ Maria Tadeo on Thursday. EU countries were discussing with IEA members, including the United States, when a release would be appropriate. An EU source said the European Commission had held a call with several countries, including the UK, to assess different scenarios.
Who decides, who carries the cost
The war in Iran and reduced refining capacity have squeezed supply and pushed prices higher for companies and consumers. U.S. Treasury Secretary Scott Bessent urged Europe to make new stocks available “immediately,” arguing that U.S. “farmers, truckers, and businesses should not be left carrying the burden”. The call came with a threat: release the reserves, or risk a U.S. export ban.
U.S. diesel prices had surged to $7 a gallon in recent days. Brent crude had traded between $97 and $102 a barrel since late September, up $25 to $30 from pre-war levels. President Trump sees the issue as a priority ahead of midterm elections. The Commission can convene discussions, but EU capitals decide whether the stockpiles move.
Brussels counts the money
The European Commission said Ukraine’s financial and military needs for 2026 were fully covered, ending debate over a $27 billion deficit. “Through coordinated joint efforts, we have identified the means to cover Ukraine’s budget and defence needs for 2026,” the Commission said in a statement Ursula von der Leyen posted on Thursday.
Kyiv had flagged the $27 billion funding gap in the Ministry of Defence in late August, prompting technical talks. EU officials considered the headline figure unexpected and unexplained. The Commission urged Ukraine to pass reforms to unlock the €90 billion support loan. Jorge Liboreiro wrote that “The one-month saga has ended,” adding that “the Commission didn’t want to be associated with, let alone be held responsible for the $27 billion.” He also noted: “Reforms are stuck in the Rada. It’s way too soon to talk about fresh money.”
The next figure is larger. Ukraine identified a $78 billion shortfall for 2027: $32.6 billion for the budget and $45 billion for the military. Russia’s escalation could increase the military need. Brussels and Kyiv were to continue discussions, while the International Monetary Fund was involved but wasn’t ready to provide an updated figure. Julie Kozack, Director of the IMF’s communications department, said the gap beyond 2026 would depend on the evolution of the war, reforms by the authorities, economic developments and continued support from Ukraine’s international partners.
Borders, membership and the right to seek refuge
Greece proposed suspending the right to apply for asylum in the EU during a mass influx of irregular migrants. Migration and Asylum Minister Thanos Plevris presented the proposal to EU counterparts at a ministerial meeting in Luxembourg. It could permit returns without individual assessments of asylum claims, potentially producing “collective pushbacks”, which current EU law prohibits. Athens wants the measure included in the European Emergency Response Framework, a law the European Commission was preparing to present in the coming months. Greece’s proposed “Special Derogation Regime” would cover exceptional circumstances, including a rapid increase in arrivals, pressure on local infrastructure and evidence that non-EU countries were organising or facilitating migration flows.
In Podgorica, Commission President Ursula von der Leyen urged Montenegro to resolve bilateral disputes with Croatia, calling them “of utmost importance.” Zagreb had raised issues that risked derailing Montenegro’s ambition to become the EU’s 28th member by 2028. Von der Leyen also called cross-party support fundamental to maintaining the accession timeline and said the EU needed to prepare its institutions, policies and budget for new members. Pre-enlargement policy reviews were expected the following week.
In an interview with Euronews’ Sasha Vakulina, Kyrylo Budanov, the head of the Ukrainian President's Office, warned that European security without the United States would be “very dangerous” and outlined Kyiv’s vision for deeper defence cooperation with Europe. Elsewhere, Mediapart published a second wave of screenshots of antisemitic messages attributed to RN leader Jordan Bardella, who denied writing them. Brazil’s attorney general asked police to investigate allegations that U.S. President Donald Trump’s administration was using government funds to promote a “far-right agenda” in Brazil, days before President Lula and Flavio Bolsonaro prepared to run in an election.