Brief

G7 agrees to release 100 million barrels of diesel after Trump threatens export ban

The agreement follows a Friday phone call between President Trump and French President Emmanuel Macron and comes as UK diesel prices hit £2 per litre.

By Felo News Desk · Published Sat, 03 Oct 2026 20:21:24 GMT

G7 leaders announced on Friday that they will release up to 100 million barrels of diesel within four months, a move prompted by President Donald Trump’s warning that the United States could halt diesel exports to Europe if the bloc did not tap its strategic reserves.

What happened

During crisis talks on Friday, French President Emmanuel Macron said the G7 would make the diesel release and would not impose any restrictions on the exchange of energy products between partner countries. The announcement came after Trump told reporters that Europe would "release a massive amount" of its stocks after he threatened to cut off American diesel supplies unless reserves were freed.

What the reports add

According to the Independent, the United States had previously asked European nations to release 50 million barrels of diesel and urged International Energy Agency members to free 50 million barrels of crude oil. The same outlet notes that White House officials praised Trump as the "dealmaker‑in‑chief" for forcing Europe to act, while the president’s deputy press secretary Taylor Rogers posted on X that the deal would put more supply on the market and lower diesel prices.

What was said

Macron told the G7 that the allies would "take no measures to restrict the exchange of energy and petroleum products between partner countries" and confirmed the 100 million‑barrel target. Transport minister Keir Mather of the United Kingdom said the UK has a "diverse range of supply" for diesel and is working closely with the United States to sustain global flows. US energy secretary Chris Wright told reporters that the administration expected Europe to announce new diesel supplies soon.

How it came about

The deal follows a series of escalating tensions after Trump’s conflict with Iran drove fuel prices higher. Earlier on Friday, UK experts warned that the spike in diesel prices – which reached £2 a litre for the first time – could push food bills higher. The United States had earlier called on Europe to release emergency oil and petroleum stocks, a request that was rebuffed by the EU, which said a ban would damage trust.

Key facts

G7 leaders pledged to release up to 100 million barrels of diesel within four months. (independent.co.uk)
President Trump threatened to cut US diesel exports to Europe if reserves were not released. (independent.co.uk)
UK diesel price hit £2 per litre, the first time it reached that level. (independent.co.uk)