The decision on the 12th day of the war comes in the wake of escalating disruptions to shipping in the Strait of Hormuz.
The International Energy Agency said its member governments have agreed to release up to 400 million barrels of oil from strategic reserves as the Iran war disrupts global energy markets.
The coordinated action, if fully implemented, would be the largest emergency oil release in the agency’s history, surpassing previous interventions during supply crises. IEA Executive Director Fatih Birol said the war was already affecting energy flows and creating wider risks for the global economy.
Finance ministers warn of supply risks as oil prices spike and shipping through the Strait of Hormuz faces disruption.
New data show Ukraine as world’s largest arms importer while Russian exports collapse and NATO members rearm.
Organizations warn the U.S. and Israeli strikes raise questions over the use of force, civilian protections, nuclear safety.
U.S. and U.K. top diplomats meeting in Washington amid dispute over Diego Garcia base and Chagos Islands deal.
Global ministers, activists and diplomats gather in New York as new figures show representation advancing only slowly.
Finance ministers warn of supply risks as oil prices spike and shipping through the Strait of Hormuz faces disruption.
New data show Ukraine as world’s largest arms importer while Russian exports collapse and NATO members rearm.
Organizations warn the U.S. and Israeli strikes raise questions over the use of force, civilian protections, nuclear safety.
