The United States will offer India and China to release oil from reserves

After the embargo on oil from RUSSIA , the United Statesare preparing to release from the reserves of 1 million barrels per day for six months. Now Washington will ask the countries with the largest oil reserves and the largest consumers to do the same.

The United States will invite the countries of the International Energy Agency, as well as CHINA and India, to free up oil reserves in order to increase the volume of supply in the market. This was announced by the DIRECTOR of the National Economic Council Brian Deese at a White House briefing, which was broadcast on YouTube.

"At tomorrow's meeting with the International Energy Agency, the United States will propose to participating countries a collective release of oil from reserves, we will discuss how much each country can give," Dees said.

According to him, first of all, the United States will discuss this issue with the countries of the agency, since they have the largest oil reserves. Immediately after that, the US will hold talks with China, India and other countries that are the largest consumers of oil.

Biden will announce the decision to supply 1 million barrels of oil from reserves. oil per day Economy

The United States banned the supply of Russian energy resources, including oil, on March 8 against the backdrop of Russia's military operation in Ukraine. A similar embargo was also discussed by the EU Foreign Ministers, but they have not yet decided to impose a ban on oil imports. The Kremlin explained that if a number of Western countries refuse oil, Russia will redirect exports to Asian markets.

At the same time, Indian oil refiners showed interest in Russian Urals oil, BLOOMBERG wrote. State-owned Mangalore Refinery and Bharat Petroleum Corp., as well as Petrochemicals Ltd. planned to buy oil with deliveries in May and June, the agency reported. At the same time, Hindustan Petroleum Corp. has already purchased 2 million barrels of this grade of oil for delivery in June.

Austria opposed the embargo on oil and gas supplies from Russia Politics

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On March 31, Bloomberg reported on negotiations on the supply of oil in rubles at the government level. Russia offers India to increase purchases and receive oil at a discount of up to $35 per barrel. The volume of the first batch may reach 15 million barrels, the parties are discussing the purchase.

The White House later released President Joe Biden's plan to respond to rising fuel prices. After consultations with partners, Biden will announce that the United States will print strategic reserves of 1 million barrels per day within six months. In addition, according to the plan, the US should increase oil production by 1 million barrels per day this year and by 700 thousand barrels per day next.