Possible US diesel export ban a bad idea- EU

The European Union on Thursday slammed a possible US diesel export ban backed by President Donald Trump as a “bad idea” that would hurt both sides.

Trump expressed support for a ban this week as surging fuel prices from the war in the Middle East threaten to cost his Republican party its control of Congress in midterm elections in November.

“We believe this is a bad idea,” European Commission spokesman Olof Gill told a press conference, adding that Brussels viewed the US plans “with concern”.

“We believe it potentially can have a negative impact on both sides. We’re making that point to our US counterparts at the highest level,” Gill said.

Like the United States, Europe has contended with high fuel prices since the start of the US-Iran war in late February, but it is vastly more dependent on imports.

The average diesel price at pumps across the 27-nation bloc has reached a record high of 2.23 euros per litre, according to an AFP analysis of member states’ data published by the commission on Thursday.

The US accounted for about 50 per cent of diesel imports into the 27-nation bloc in August, according to the Commission.

“We expect close partners to consult each other before taking measures that affect shared markets,” Gill said.

AFP

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