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G7 agrees to release 100 million barrels of oil.
2 Oct 2026
Timeline
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Economy
G7 agrees to release 100 million barrels of oil12
G7 states agreed a coordinated emergency stock release to ease fuel prices pushed up by the Iran war and supply disruption. The IEA coordinates such drawdowns.
- G7 leaders agreed on 2 October 2026, at a virtual meeting, to release 100 million barrels of oil and diesel through the IEA over four months
- Diesel release to be front-loaded within the first 20 days
- Trigger: disruption in the Strait of Hormuz; the statement also calls for restored navigation there
- Statement did not say how much each country gives or whether the volume adds to the March IEA commitment
- IEA said on 3 October that 325 million of the 400 million barrels promised in March had been released
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International
52nd G7 Summit opens in Evian-les-Bains, France; India invited34
Summit held 15 to 17 June 2026 at Evian-les-Bains, France. France holds the 2026 G7 presidency. India invited as a partner country, alongside Brazil, Kenya and South Korea.
- Summit held 15 to 17 June 2026 at Evian-les-Bains, France
- France holds the 2026 G7 presidency
- India invited as a partner country, alongside Brazil, Kenya and South Korea
- Modi and Trump met on the sidelines
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International
G7 foreign ministers meet in France with India as partner country567
EAM S. Jaishankar took part as an invited partner in the G7 foreign ministers' meeting held near Paris from 26 March 2026 under France's presidency, meeting counterparts including France's Barrot and Canada's Anand.
- G7 foreign ministers met at an abbey near Paris (Vaux-de-Cernay) from 26 March 2026 under France's G7 presidency
- India (EAM Jaishankar) took part as an invited partner; he met France's Jean-Noel Barrot and Canada's Anita Anand on the sidelines
- Modi has confirmed attendance at the G7 leaders' summit at Evian, 15-17 June 2026
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