PARIS: G7 countries agreed Friday to release 100 million barrels of diesel and crude oil to ease global energy supply concerns, as President Donald Trump hailed the decision and said the US would not impose a threatened diesel export ban.
The announcement came following a video conference of G7 leaders chaired by French President Emmanuel Macron after Washington stepped up pressure on Europe to release strategic reserves and threatened a diesel export ban.
The talks, convened by Macron after a conversation with Trump, focused on coordinating a response to soaring fuel prices among the other G7 economies of Britain, Canada, Germany, Italy, Japan and the United States.
The US-Israeli war with Iran has sent energy prices skyrocketing, coming back to bite Trump at home with high fuel costs that have become a key issue ahead of midterm congressional elections in a month.
