Trump Rules Out Diesel Export Ban Hours After G7 Emergency Reserve Release

President Trump declared on October 2 that the United States will not impose a ban on diesel exports, stating the measure was never seriously under consideration. His remarks came hours after G7 nations and their partners agreed to release diesel and crude oil from their emergency reserves in an effort to bring down soaring fuel prices.

Trump said Europe is making a major contribution to addressing the supply crunch and that the U.S. is doing the same, framing the coordinated reserve release as sufficient action without the need for export restrictions. He also signaled that the U.S. would move to replenish its Strategic Petroleum Reserve in the near term, and noted that American exports have reached record levels.

Separately, Trump addressed several other fronts during the same period. He said Iran's military capabilities have been eliminated and that the conflict will end soon, either through a deal or further military action, calling the current operation far less costly than allowing Iran to acquire a nuclear weapon. He also said he was not concerned about South Korea's uncertainty over a reported $54 billion Alaska LNG investment, and suggested the U.S. could take equity stakes in AI companies such as OpenAI or Anthropic, drawing a parallel to its deal with Intel, while ruling out outright nationalization of frontier AI labs.