Under pressure from Donald Trump, G7 releases 100 million barrels of oil
The threat of a US embargo on diesel exports accelerated discussions on ways to curb soaring prices.
WASHINGTON, Oct 3 - President Donald Trump dismissed the notion of a diesel export ban following a decision by European nations to release their fuel reserves, stating that the idea was never a realistic option. At the White House, when asked by an AFP journalist about the possibility of a US export ban, Trump affirmed that "it was never really on the table."
He further explained that Europe had generously contributed to the world by releasing diesel, with the US also playing its part. Trump reiterated that the administration would not pursue an export ban but would instead adhere to the agreed-upon course of action. Earlier, the President had voiced support for the export ban on September 22, arguing that it would lower prices for US consumers but also create supply constraints globally.
However, just hours ago, he said that his administration was still contemplating the idea as it pushed for Europe to use its reserves. The 100 million barrels of diesel and crude oil pledged by G7 countries were intended to alleviate global energy supply pressures sparked by the conflict in Iran. The Republican Party, which Trump leads, is currently at risk of losing control of Congress in the upcoming midterm elections, as voters are growing increasingly frustrated with the ongoing conflict and its consequences on energy expenses.
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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