G7 nations agreed on Friday to release up to 100 million barrels of crude oil and diesel from emergency reserves over four months, following pressure from the Trump administration to curb rising fuel prices, according to a statement by G7 leaders .

The coordinated action, announced after a virtual leaders’ meeting on 2 October, will involve emergency stocks managed through the International Energy Agency, with a substantial portion of diesel supplies frontloaded in the first 20 days .

U.S. President Donald Trump confirmed the move, stating on social media that European nations had agreed to release a “massive amount” of diesel reserves, with the process beginning immediately . He later ruled out a U.S. diesel export ban, reversing earlier threats that such a measure was under consideration .

The decision follows U.S. Treasury Secretary Scott Bessent’s call on Thursday for Europe to “immediately” tap its reserves, as soaring diesel prices—hitting $6.53 per gallon in the U.S. and €2.24 per liter in Europe—strained global markets amid disruptions from the wars in Ukraine and the Middle East .

G7 leaders also pledged to maintain sanctions against Russia while coordinating with the IEA to prevent further market instability . The group committed to avoiding export restrictions on energy products among members .

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USA unter Trump: Trump schließt Diesel-Exportstopp aus und lobt Europäer Liveticker zur US-Politik unter Donald Trump / Trump dampft Militärübung mit Südkorea ein / Jetzt lesen im Liveticker der FAZ

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gdeltproject.org · about 2 hours ago

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gdeltproject.org · about 2 hours ago

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gdeltproject.org · about 2 hours ago

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die zeit · about 3 hours ago

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brussels morning · about 3 hours ago

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brussels morning · about 3 hours ago

🛢 G7 nations will release up to 100 million barrels of crude oil and diesel from emergency reserves under pressure from the Trump administration to curb rising fuel prices, according to a statement by G7 leaders. They also pledged to maintain sanctions against Russia while cooperating with the International Energy Agency and partners to prevent the negative impact from spreading further to fuel, gas, and other commodity markets.

telegram_United24 Media · about 3 hours ago

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moldpres · about 3 hours ago

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wnp.pl · about 3 hours ago

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rzeczpospolita · about 3 hours ago

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yenisafak · about 3 hours ago

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yenisafak · about 3 hours ago

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aljazeera · about 3 hours ago

G7 agrees to release oil reserves after U.S. push #Europe

mastodon bot · about 3 hours ago

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money.pl · about 3 hours ago

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hotnews.ro · about 3 hours ago

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cphpost · about 3 hours ago

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mastodon bot · about 3 hours ago

G7 releases diesel stocks after Trump pressure, EU denies caving

bluesky_EUobserver · about 3 hours ago

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cleantechnica · about 3 hours ago

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