Europe to release diesel reserves after Trump request
The G7 has agreed to release 100 million barrels of diesel reserves to combat rising energy prices caused by the war in Iran and trade disruptions. President Trump requested the release to alleviate domestic economic pressure and high fuel costs.
Why it matters
Global energy markets are experiencing significant volatility due to geopolitical conflicts, impacting consumer costs and government policy.
The US leader asked European countries to release some of their diesel reserves to ease the rising prices. The issue has damaged Trump's popularity back home.
https://p.dw.com/p/5NfVy Diesel prices have soared since the US waged war against Iran/AFP Advertisement US President Donald Trump announced on Friday that Europe will release parts of its diesel reserves with immediate effect.
"Europe has just agreed to release a massive amount of their heavily stocked Diesel Oil ," Trump posted on his Truth Social account, adding that the process will begin "immediately."
Trump later hailed the decision as "a great thing."
Speaking about the possibility of a US ban on diesel exports, Trump said such a move "was never really on the table."
The US leader is facing growing pressure at home due to mounting prices of oil and other goods as a result of the Iran war and his trade policies.
Also covering this story
19 other newsrooms covered this event. We read each version separately.
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