🔻U.S. President Donald Trump said on Friday that European countries have agreed to release a “massive volume” of their diesel reserves; an action Washington had demanded in order to curb a sharp rise in fuel prices following wars involving Iran and Ukraine.

In a post on Truth Social, Trump wrote: “Europe has already agreed to release a massive amount of its abundant diesel reserves. This process will begin immediately.”

Earlier, member countries of the European Union had been considering France’s proposal to release part of its diesel reserves. Under that proposal, European countries would release 50 million barrels of diesel, and members of the International Energy Agency would also release 50 million barrels of crude oil from their reserves.

Reuters also reported that the Trump administration has asked major European countries, including France and Germany, to bring 100 million barrels of diesel into the market from their reserves within 20 days.

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