OREANDA-NEWS. Germany, following the United States and other member countries of the International Energy Agency (IEA), intends to use part of the oil from national reserves. This was reported by the DPA agency with reference to the Ministry of Economy of Germany, writes TASS.

On March 1, it became known that the IEA releases 60 million barrels, 30 million of which fall on the United States. According to the German agency, Germany will account for about 5.4% of the total.

In February, German Economy Minister Robert Habeck said that Germany had not recorded violations in the supply of energy resources from abroad. The politician believes that Berlin should further strengthen its energy security. According to him, it is necessary to quickly develop renewable energy in order to overcome dependence on fossil fuels.

Earlier, US President Joe Biden announced that the United States was ready for new commodity interventions to stabilize world oil prices.

“Today I can announce that the US, together with 30 countries, is releasing 60 million barrels of oil from reserves around the world. America is leading the way, releasing 30 million barrels from our strategic oil reserve. And we are ready to do more, if necessary, together with our allies,” the American president said during his speech before the House of Representatives and the Senate of the US Congress with the annual State of the Union Address.

In addition, according to him, the country's massive infrastructure reform will put America "on the path to victory in the economic competition of the 21st century" and eventually overtake China.