PARIS: G7 countries agreed Friday to release 100 million barrels of diesel and crude oil from their reserves over four months, leaders said, agreeing to "refrain from export restrictions on energy" and urging others to do the same.
The announcement came after G7 leaders held talks to coordinate action on fuel prices, after the US upped pressure on Europe to release its strategic reserves by threatening a diesel export ban.
The seven countries agreed to "a coordinated release through the IEA of 100 million barrels to begin immediately over four months, including a frontloaded substantial diesel release within the first 20 days," they said in a joint statement released by French President Emmanuel Macron's office.
