Germany confirms role in IEA energy reserves release
Middle East Eye
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Middle East Eye
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Germany's economy ministry confirmed the country will participate in releasing emergency energy stocks agreed upon by the International Energy Agency in March. The announcement follows a separate G7 agreement reached under US pressure to withdraw 100 million barrels of crude oil and diesel from emergency reserves.
Germany’s economy ministry says the country will take part in the release of emergency energy stocks agreed by the International Energy Agency in March.
“The implementation of the release is currently being processed,” a ministry spokesperson told Reuters in an emailed statement on Wednesday.
The announcement follows a separate G7 agreement last week, reached under US pressure, to draw 100 million barrels of crude oil and diesel from emergency stocks. The group also committed to keeping energy exports free of restrictions.
Questions remain over how much of that total would come from each fuel and how the plan relates to the March commitment to release 400 million barrels.
The German spokesperson did not address the latest G7 proposal.
“The implementation of the release is currently being processed,” a ministry spokesperson told Reuters in an emailed statement on Wednesday.
The announcement follows a separate G7 agreement last week, reached under US pressure, to draw 100 million barrels of crude oil and diesel from emergency stocks. The group also committed to keeping energy exports free of restrictions.
Questions remain over how much of that total would come from each fuel and how the plan relates to the March commitment to release 400 million barrels.
The German spokesperson did not address the latest G7 proposal.
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Source: Middle East Eye
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