The Spanish government on Tuesday approved the release of up to 11.5 million barrels of oil from its reserves in a bid to ease supply shortages.
Speaking to reporters following a weekly Cabinet meeting, Energy Minister Sara Aagesen said the move came in response to disruptions linked to the partial closure of the Strait of Hormuz amid continued escalation in the Middle East.
Aagesen noted that the government has approved the release of up to 11.5 million barrels from strategic reserves over the next 90 days.
The release will be carried out in phases, and the first shipments are expected to begin within 15 days.
