Biden authorized the release of 1 million barrels from the strategic oil reserve.
30 countries will allocate 60 million barrels of oil from their own reserves to counter the increase in energy prices implemented by the Russian Federation.
This is reported by US President Joe Biden on the microblogging service Twitter.
“Putin's invasion of Ukraine led to an increase in gas and food prices around the world. 70% of the increase in March was caused by Putin's increase in prices,” Biden said.
Therefore, Biden will make an effort to reduce them and solve this problem.
“To help deal with Putin's price increase, I authorized a spin-off from our strategy oil reserve of 1 million barrels a day over the next six months, and more than 30 countries have agreed to provide another 60 million barrels,” Biden said.
He added that the joint actions of countries to attract reserves helped stop growth prices, and also contribute to their reduction.
