From EUobserver · · 1m 30s
G7 releases diesel stocks after Trump pressure
G7 agrees to release 100 million barrels of diesel after Trump demands.
In brief
G7 agrees to release 100 million barrels of diesel after Trump demands. G7 commits to releasing 100 million barrels of diesel over four months following US pressure to avoid export bans ahead of November elections. Originally reported by EUobserver.
G7 partners agree to diesel release
The EU and its G7 partners agreed on Friday (2 October) to a coordinated release of 100 million barrels of diesel and crude through the International Energy Agency (IEA) over four months.
Trump pressures EU for immediate action
Trump had pressured EU leaders to agree to the release all week, urging them to 'immediately' tap reserves after speaking to French president Emmanuel Macron.
Trump's record diesel prices
US diesel prices hit a record $6.53 per gallon last week, a liability for Trump’s Republicans ahead of the 3 November midterm elections.
EU rejects US diesel ban threat
The EU insists any further release requires a US pledge to avoid a unilateral diesel ban, rejecting claims they buckled to US pressure.
EU energy spokesperson responds
Anna-Kaisa Itkonen, the commission’s energy spokesperson, said a US diesel ban would undermine trust in the US as a reliable partner and declined to comment on the leader’s call.
G7 statement on future releases
The G7 statement said they will discuss additional diesel releases as necessary through the IEA in the coming days to address supply disruptions.
The key point
G7 commits to releasing 100 million barrels of diesel over four months following US pressure to avoid export bans ahead of November elections.
