Japan and Germany said on Wednesday (March 11, 2026) they would tap into their oil reserves to tackle the rise in crude prices due to the West Asia war, with Berlin saying the IEA global energy body had asked member states to release 400 million barrels.
France, the current chair of the Group of Seven countries, said nations were coordinating their steps as G-7 Energy Ministers said they stood ready to take "all necessary measures".
The latest announcement came as leaders of the Group of Seven advanced economies were set to discuss the widespread economic fallout from the U.S.-Israeli war with Iran, now into its second week, at a video conference meeting chaired by French Preside
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