G7 countries agree to release 100 million barrels of oil from strategic reserves

G7 leaders have agreed to release 100 million barrels of oil and petroleum products from strategic reserves in coordination with the International Energy Agency (IEA). This process will begin immediately and will continue for four months. Radio Tavisupleba+1

Special attention will be paid to the diesel fuel shortage, with a significant volume planned for release within the first 20 days. rustavi2 writes that this decision was made against the backdrop of pressure from the US, as Washington was forcing European countries to take concrete steps, and a potential ban on diesel exports by the US could create problems. radiotavisupleba notes that previously, the US had demanded that France and Germany use their emergency diesel fuel reserves. Radio Tavisupleba+1

G7 participants committed not to impose energy export restrictions against each other and called on other producers to refrain from bans that could increase tension in the global market. Measures to increase the production of oil refineries are also planned. Radio Tavisupleba+1