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Trump: Europe agrees to release diesel reserves to cut prices

Trump says Europe has agreed to release diesel reserves to cut prices
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US President Donald Trump said on his social media platform that European countries have agreed to release part of their diesel fuel reserves in order to bring down global fuel prices. The US administration had earlier urged Germany and France to take this step, warning that otherwise it would ban diesel exports from the United States.

It is not yet known exactly which countries will release their reserves or in what volume. “Europe has just agreed to release a huge amount of its vast diesel fuel stockpiles,” Trump wrote, adding that “the process will begin immediately.”

Diesel prices have recently surged in the United States, Europe and other parts of the world amid ongoing military conflicts. On Tuesday, Trump backed the idea of banning diesel exports from the country in order to lower prices on the American market. US Treasury Secretary Scott Bessent said the Trump administration was considering this possibility. The European Union responded to these plans with a statement expressing concern.

The G7 group includes Germany, France, the United Kingdom, the United States, Japan, Italy and Canada. France currently holds the group's presidency.

Source: novinky.cz

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