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G7 agrees to release 100 million barrels of fuel after Trump threatens to cut off US diesel exports

From the Newshound archive · first published 2 October 2026 · last updated 5 October 2026.

Trump has warned France and Germany to release their emergency diesel reserves or face a US export ban, with Washington's sharpest frustration directed at both countries over broken pledges on petroleum stocks.
Trump has warned France and Germany to release their emergency diesel reserves or face a US export ban, with Washington's sharpest frustration directed at both countries over broken pledges on petroleum stocks.

G7 countries are to draw down 100 million barrels from their emergency oil and diesel stockpiles after President Trump threatened to halt US diesel exports to Europe if the bloc did not tap its reserves. The agreement includes a commitment to concentrate a large diesel release into the opening 20 days, with no export restrictions to apply between member nations. Trump celebrated the outcome on Truth Social, saying Europe had agreed to release "a massive amount of their heavily stocked Diesel Oil" and that the process would begin immediately. UK diesel prices had already reached record highs before the deal was struck.

Industry figures warned that Trump's threatened export ban would have had "catastrophic" effects on global markets.

French President Emmanuel Macron called an emergency G7 video conference and put forward the 50-50 formula: 50 million barrels of diesel and 50 million of crude oil.

Trump subsequently claimed the export ban was "never on the table", even though the ultimatum had prompted the emergency talks.

MoreGB NewsDonald Trump gets G7 to release 100 million barrels of fuel after diesel export threatEvening StandardTrump claims diesel export ban ‘never on table’ as G7 agrees reserve releaseAOL News UKG7 to release up to 100m barrels of emergency oil and diesel reserves
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