Trump’s Trade Threats Pose Risk to Spain's Energy Security
Donald Trump has issued a new threat to halt trade with Spain following its refusal to commit 5% of GDP to defense spending and support U.S. operations against Iran. This is the second such warning since March 2026, raising concerns in Madrid about potential energy disruptions despite EU rules that prevent isolating one member state from common trade policies. Spain has increased reliance on U.S. crude oil imports over recent years, with an average of roughly 250,000 barrels per day (b/d) supplied to Spain out of a total import volume of around 1.2 million b/d in 2025. The country's energy diversification has helped avoid immediate shortages but not without economic consequences—refined products crack spreads have hit decades-high levels due to supply constraints from the Middle East crisis. Natural gas is another area of concern, with U.S.-supplied LNG accounting for nearly a third of Spain’s total imports in 2025. The potential disruption could force Spain to seek more expensive alternatives like Kazakh or Brazilian crude and increase reliance on Algerian supplies.
Topics: crude oil imports Donald Trump energy security U.S.-Spain relations