G7 / Diplomacy / Energy security

G7 pledges 100-million-barrel release and rejects energy export curbs

Leaders set a four-month timetable, bring forward diesel supplies and retain sanctions against Russia.

2 OCT 2026 · 2 min read

Leaders and guests at the G7 summit in Kananaskis, Canada, on 17 June 2025. Archive photograph, not the October 2026 virtual meeting. — Archive · Prime Minister’s Office, India · 17 June 2025 · GODL-India · display cropped · Licence · Cropped for display. Context image, not a photograph of this event.

G7 leaders agreed on 2 October to coordinate the release of 100 million barrels through the International Energy Agency over four months, while pledging to avoid energy export restrictions between member countries. The joint statement followed a virtual meeting.

Diesel takes priority

A substantial diesel release is planned within the first 20 days. Members also intend to stagger refinery maintenance and increase output where feasible. These are commitments, not confirmation that the supplies have already reached buyers.

Sanctions and shipping

The statement retains sanctions against Russia and calls for navigational rights in the Strait of Hormuz to be restored. Its condemnation of Iranian attacks and disruption of trade is the leaders’ stated position; the announcement does not establish a new military action.

What remains unresolved

The release is framed as implementation of March commitments, accounting for volumes already delivered. It should not be described as 100 million entirely additional barrels. Country-by-country contributions and the eventual effect on fuel prices are not specified. The IEA is asked to report on implementation and market effects within 20 days.