The European Union said Friday a US diesel export ban would hurt everyone and “undermine trust” in Washington as a partner, while offering to participate in a possible emergency reserve release coordinated by the International Energy Agency. An EU spokesperson said the bloc “fully” rejects a ban and is ready for collective oil market action if the IEA deems it necessary.

European governments are reviewing France’s proposal to release 50 million barrels of diesel from European reserves and 50 million barrels of crude across IEA members. Germany and some other countries want releases only for genuine supply security needs, Politico reported. A German government spokesperson said the country still regards the US as a reliable fuel supplier and wants to avoid further market uncertainty.

Oil fell about 3% on the reserve talks, and European diesel prices also declined. Washington has requested that the EU release 120 million barrels of diesel over six months and warned France and Germany of a potential US export ban if they do not draw down stocks, Reuters reported. European governments discussed requiring a US commitment against a unilateral ban as part of any release agreement.