The question becomes even more relevant after G7 countries
agreed to release up to 100 million barrels of diesel, crude oil and other
petroleum products from emergency reserves over four months, with a substantial
volume of diesel to be released within the first 20 days.
The decision followed intense pressure from Washington,
including the threat of a US diesel-export ban that could have further
disrupted supplies to Europe.
The irony is difficult to ignore. Trump had repeatedly
indicated that a diesel-export ban was under consideration. After European
countries agreed to release their strategic stocks, he declared that the United
States would not impose such a ban—and claimed that it had never really been on
the table.
If that is the case, why were America's allies required to
open their emergency reserves?
Strategic petroleum reserves are maintained for genuine
emergencies. They should not become an instrument for managing the consequences
of another country's policies. Releasing 100 million barrels may provide
temporary relief, but it cannot substitute for restoring normal energy flows.
The larger question is therefore unavoidable, why is
Washington concentrating on extracting more fuel from its allies instead of
addressing the causes of the disruption?
The Strait of Hormuz is vital to the global energy system.
Prolonged disruption affects far more than Iran. Higher crude and
refined-product prices feed directly into transportation, agriculture,
manufacturing, inflation and household costs across the world.
Trump may describe the G7 release as a “major world
contribution.” But the world needs more than emergency barrels. It needs secure
shipping routes, uninterrupted energy supplies and a diplomatic framework
capable of ending the confrontation.
Punishing Iran through sanctions and military pressure while
asking the rest of the world to absorb the resulting energy shock is hardly a
sustainable strategy.
If Washington wants its allies to share the burden of the
crisis, it should also be prepared to share responsibility for ending it.
Otherwise, the G7 may simply be helping Trump postpone a problem that requires
a political solution.
