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Britain in talks with allies over releasing emergency diesel stockpiles
The UK is in talks with European allies about potentially releasing emergency diesel stockpiles after Donald Trump threatened to ban US diesel exports.
The Trump administration has pressured European countries, particularly Germany and France, to release strategic diesel stockpiles to ease soaring global diesel prices, threatening a US export ban if they do not comply. The UK joined crisis talks with the European Commission and other European nations on Thursday to discuss whether to draw down reserves. UK transport minister Keir Mather said on Friday that Britain's diesel supply was 'robust' and 'inherently resilient', with a wide range of sources, attempting to avert panic. The EU held emergency meetings to discuss a coordinated response, with France reportedly proposing releasing 100 million barrels of crude oil and diesel. On Friday, the EU 'fully rejected' the US threat to ban diesel exports, according to an EU official. Diesel prices have surged amid conflict in the Middle East restricting oil supplies.
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