Trump announces Europe's agreement to pump a "huge amount" of diesel to curb prices... and Macron: G7 will release 100 million barrels of diesel and crude oil within four months

US President Donald Trump announced that European countries have agreed to release a “huge quantity” from their diesel reserves, as part of efforts to curb the rapid rise in prices driven by the wars in Iran and Ukraine. Trump wrote on his platform, Truth Social: “Europe has just agreed to release a huge amount from its large diesel fuel reserves. The process will begin immediately.”

Meanwhile, French President Emmanuel Macron announced that the Group of Seven (G7) would release up to 100 million barrels of diesel and crude oil over four months, affirming that G7 countries would not ban diesel exports among themselves.

Macron said in a statement following talks he chaired to coordinate the move on fuel prices that the group’s countries had agreed on a “coordinated release, through the International Energy Agency, of a total of 100 million barrels, to be implemented immediately and over a four-month period.” He also clarified that it had been agreed not to impose any restrictions or bans on exports between G7 countries, noting that his US counterpart had also been “very clear on this point.” He stressed that these decisions “would lead to lower fuel prices.”