This was stated by a senior Department of State official.
If necessary, the United States and other states can release more oil from reserves. This was announced by senior adviser to the U.S. Department of State Amos Hochstein.
Hochstein said that the administration of President Joe Biden is trying to resist the rise in oil prices that followed the start of the Russian invasion of Ukraine and the introduction of international sanctions against the aggressor. However, according to him, it will not be easy to replace Russian oil exports.
The United States and other member states of the International Energy Agency have agreed to release 60 million barrels of oil to the market in order to lower prices.
Hochstein, speaking at the CERAWeek International Energy Conference in Houston, Texas, noted: “If we need to do something else on a global level together with our allies, we will do it.”
According to Hochstein, the White House initially did not intend to impose direct sanctions on Russian energy exports, fearing that this would primarily hit consumers. However, many buyers of Russian oil and gas themselves began to refuse purchases. According to him, now about 3 million Russian oil cannot find buyers.