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Add TN as a preferred source on GoogleG7 leaders agreed on Friday, October 2, 2026, to continue coordinating efforts to restore full freedom of navigation through the Strait of Hormuz, amid growing pressure on global energy markets.
The leaders also agreed to release 100 million barrels of crude oil and petroleum products from their reserves through a coordinated operation involving the International Energy Agency (IEA) over the next four months.
Coordinated release of oil and diesel
French President Emmanuel Macron said after the G7 discussions that the coordinated release would begin immediately and continue for four months.
The measure is intended to increase supplies on international markets and help contain the rise in fuel prices caused by the conflict involving Iran.
A significant volume of diesel is expected to be made available during the initial phase of the operation, as part of efforts to ease pressure on refined fuel markets.
No export restrictions among G7 members
The G7 countries also agreed not to impose restrictions or bans on energy exports between member states.
Macron said US President Donald Trump had also been clear on this point, stressing the importance of maintaining energy flows between G7 countries.
The group also called for measures to prevent additional disruptions to global energy supplies.
Strait of Hormuz remains a key concern
The freedom of navigation through the Strait of Hormuz was another central issue discussed by the G7 leaders.
The strategic waterway is a major route for international energy shipments, making disruptions to navigation a source of concern for global oil and fuel markets.
The G7 said it would continue coordinating its efforts to restore full freedom of navigation through the strait.
The International Energy Agency is also expected to monitor implementation of the measures and assess further steps, including the replenishment of strategic reserves.
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