Trump says US to hold off on diesel export ban after G7 release
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓President Donald Trump said he won’t ban US diesel exports after G7 nations agreed to release emergency fuel stockpiles on Friday.
- ✓“We’re not going to be doing the export ban,” Trump said.
- ✓This move aims to lower soaring prices that hit the economy hard before the upcoming November midterm elections.
Story at a Glance
- Category
- MARKET
- Reported By
- Moneycontrol
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
President Donald Trump said he won’t ban US diesel exports, after Group of Seven nations and their partners agreed to release some of their emergency fuel stockpiles in a bid to bring down soaring prices.
“Europe has a lot of diesel and they’re going to be making a major world contribution — and so are we,” Trump told reporters Friday at the White House. “And we’re not going to be doing the export ban.”
The bloc, which includes major economies from Europe, North America and Asia, agreed to release as much as 100 million barrels of emergency oil and diesel stocks on Friday, after an intense pressure campaign from the Trump administration.
“I did ask them, and we’re going to have a lot of oil,” Trump added. “They did a great job.”
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