The U.S. government, led by Donald Trump, announced that Europe will release its diesel reserves at the request of this country. This agreement comes as oil and other commodity prices in the United States have sharply increased due to the war with Iran and Trump's trade policies.
Release of Diesel Reserves
Trump wrote on his social media account 'Truth Social': "Europe has just agreed to release a large amount of its stored diesel" and emphasized that this process will begin immediately. This decision is part of Trump's efforts to control domestic prices and meet the energy needs of the United States.
Read more: Trump and Rising Oil Prices: Is the Economic War Continuing?
According to a report from the American Automobile Association (AAA), the average price of diesel per gallon in the United States has reached $6.37 (€5.65), which has put significant pressure on the Trump administration. Trump believes that these prices are necessary to prevent Iran from acquiring nuclear weapons and predicts that prices will decrease after the war ends.
Impact of the Ukraine War and Russian Exports
The ban on Russian exports due to attacks on Ukraine has also contributed to the reduction of diesel supply globally. This situation has raised serious concerns about energy supply in Europe and the United States.
Emmanuel Macron, the President of France and head of the G7, confirmed this news and stated that G7 countries intend to release 100 million barrels of diesel in the next four months. Macron also pledged to avoid any trade-restrictive actions regarding oil and energy commodities among allied countries. He said: "We will closely monitor developments and are ready to adjust actions if necessary."
This decision came after a phone conversation between Macron and Trump. The United States had requested France, Germany, and other European countries to release 100 million barrels of diesel within a 20-day period. This request is particularly significant given the current energy crisis in Europe.
Ultimately, this action could not only help reduce diesel prices in the United States but may also impact the global energy market and lead to stability in diesel supply in European countries.
Read more: European Countries Respond Jointly to U.S. Pressures on Diesel · Trump Administration Reached Lowest Popularity in Foreign Affairs Due to Iran War
