jordan pulse -

​G7 leaders agreed on Friday to release 100 million barrels of diesel and crude oil from their reserves into global markets over the next four months to curb rising prices.
​The announcement followed G7 talks to coordinate action on fuel prices, after the United States intensified pressure on Europe to release its strategic reserves while raising the possibility of imposing a diesel export ban.
​G7 nations agreed on a "coordinated release, through the International Energy Agency (IEA), of a total of 100 million barrels, to begin immediately over a four-month period, including a significant early release of diesel during the first twenty days," according to a joint statement issued by French President Emmanuel Macron, who chaired the virtual meeting.
​Leaders also agreed not to impose any export restrictions or bans among G7 member nations.
​"We reaffirm our commitment to refrain from imposing export restrictions on energy and energy products among G7 countries, and we call on all producers to refrain from bans that could exacerbate market tensions," the leaders stated in the joint declaration.
​"Our citizens' concerns regarding energy prices remain a top priority," officials added, noting, "We will closely monitor developments and stand ready to adjust measures as needed."
​Macron convened the video conference with G7 leaders—comprising France, the United States, Britain, Japan, Canada, Germany, and Italy—to discuss joint action following a conversation with US President Donald Trump.
​Trump stated on Friday that Europe had agreed to release massive quantities from its diesel stockpiles, adding in a brief post on Truth Social that the release would begin "immediately."
​Source: Rum News Agency