EU capitals—not Washington—retain the final say over whether to release strategic oil reserves, even as the United States presses European allies to make diesel stocks available. EU Energy Commissioner Dan Jørgensen said a release “is a possibility” as prices climb amid the war in Iran and reduced refining capacity.
Who Decides on the Reserves?
Jørgensen said EU countries were discussing a coordinated release through the Paris-based International Energy Agency, which includes the United States. Speaking to Euronews’ Maria Tadeo on Thursday, he said: “We've used it before, and we'll likely use it again.” The EU was discussing with IEA members when a release would make sense, he said, but EU capitals hold the final decision.
An EU source said the European Commission spoke with several countries, including the UK, on Thursday to assess different scenarios. The talks come as the United States asks European allies to release diesel reserves or face a U.S. export ban. The Commission hasn't announced a decision on releasing the stocks.
U.S. Treasury Secretary Scott Bessent urged Europe to make new stocks available “immediately” to ease costs. He said U.S. “farmers, truckers, and businesses should not be left carrying the burden”. Washington's pressure has put coordinated action on the table, while individual EU capitals still decide whether to use their reserves.
Prices and Supply Pressure
The war in Iran and reduced refining capacity have squeezed supply, lifting costs for companies and consumers. In recent days, U.S. diesel prices surged to $7 a gallon. Brent crude has traded between $97 and $102 a barrel since late September, up $25 to $30 from pre-war levels.
The reserve talks concern a possible response to those market pressures. Jørgensen didn't say EU countries had agreed to release oil, and officials described Thursday's Commission call as an assessment of different scenarios. The EU's discussions with IEA members include the United States, which is also pressing Europe directly over diesel stocks.
The issue is a priority for President Trump ahead of pivotal midterm elections, according to the report. Bessent framed the costs facing U.S. farmers, truckers and businesses as a reason for European countries to release stocks. The final decision, however, remains with EU capitals.
Other Decisions on EU Authority
Greece has separately 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 allow 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 plans to present in the coming months. Greece proposed a “Special Derogation Regime” for exceptional circumstances, including a rapid rise in irregular arrivals, pressure on local infrastructure and evidence that non-EU countries were organising or facilitating migration flows. The proposal hasn't been described as adopted.
The Commission also said Ukraine's financial and military needs for 2026 were fully covered, ending debate over a $27 billion deficit. Ukraine identified a $78 billion shortfall for 2027, including $32.6 billion for its budget and $45 billion for the military. EU capitals and institutions are weighing supply, funding and border policy at the same time. On strategic oil reserves, the final call remains national.