Senior EU officials expressed optimism on Tuesday that Donald Trump, the President of the United States, may backtrack on his threat to impose a 90-day ban on diesel exports, announced to combat rising prices.
Report from the Irish Energy Minister
Dara O'Brien, the Irish energy minister whose country holds the rotating presidency of the EU, told reporters on the sidelines of an EU ministers' meeting in Dublin that he received assurances from Trump administration officials in Washington, D.C. last week regarding the non-implementation of this ban. He said: "Clearly, any diesel ban for 90 days would have specific impacts on us in the EU." He also added: "But from the information I was able to gather in Washington, it does not seem that there is pressure to implement this ban."
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Potential Impacts on the European Energy Market
Daniel Jørgensen, the EU energy chief, also expressed satisfaction at the meeting, stating that he was pleased with the public remarks of Chris Wright, the U.S. energy secretary, who announced that the diesel ban would not be effective. Earlier this month, Trump seemed inclined towards the idea of a temporary ban on diesel exports due to rising prices caused by the war in Iran and Moscow's restrictions on its exports following attacks on Ukrainian refineries.
This move could impact European energy markets, as U.S. diesel accounts for over 50% of the EU's diesel imports and 10% of its consumption. According to an S&P Global Energy report, this could have serious consequences for the European energy market.
Dara O'Brien further stated: "We will not be indifferent in this matter. But when you talk to others in the government, it does not seem that this will happen. I think this ban will have impacts for the United States, as well as impacts on other fuels."
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