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Trump Backs US Diesel Export Ban Amid Soaring Costs, Discusses Ukraine War
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Moneycontrol•23-09-2026, 00:30
Trump Backs US Diesel Export Ban Amid Soaring Costs, Discusses Ukraine War
- •Donald Trump supports a ban on US diesel exports to curb rising energy costs, a measure also advocated by some US politicians.
- •Diesel prices have reached record highs in Europe and the US due to reduced exports from major producers like Russia, Saudi Arabia, and the UAE, impacted by conflicts in Iran and Ukraine.
- •Trump stated he has been advocating for this ban internally, emphasizing the US produces a significant amount of diesel.
- •US Treasury Secretary Scott Bessent is examining the feasibility of a full or partial diesel export ban.
- •Trump also mentioned discussing Ukrainian attacks on Russian refining sites and a solution to end Russia's war in Ukraine with President Volodymyr Zelenskiy.
Key Questions Answered
Diesel prices have surged to record highs due to wars in Iran and Ukraine that have sharply cut exports from major global producers such as Russia, Saudi Arabia, and the United Arab Emirates.
President Donald Trump stated that he backs the idea of a ban on diesel exports to help curb soaring energy costs, noting that he has already discussed the measure with his administration.
Some Republican Senate candidates in competitive races ahead of the November 3 mid-term elections have called for the diesel export ban to help alleviate high energy costs for Americans.
