German Greens have called the G7 decision to release large strategic diesel and crude oil reserves "political stupidity". The agreement came at a time when diesel and fuel prices had risen sharply. The G7 countries took this step under pressure from the United States. n-tv ↗
The agreement provides for the release of up to 100 million barrels of diesel and crude oil from strategic reserves. The measure is meant to respond to high fuel prices, which burden both consumers and the economy. The available information does not give details on the exact timing or method of releasing the stocks. Welt ↗
The Greens criticized the decision as politically motivated. According to them, the release of reserves may also serve as help for the election campaign of US President Donald Trump. The party also questioned whether it is appropriate to use strategic stocks in response to current price developments.
The G7 countries agreed on the measure after negotiations influenced by a request from the United States. The scale of the planned release is among the most significant interventions in strategic energy reserves. Further developments will depend on whether the measure leads to a decline in diesel and other fuel prices.
German Greens criticize G7 release of oil reserves
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