The third vice-president of the Government and minister for Ecological Transition and the Demographic Challenge, Sara Aagesen, announced this Wednesday that Spain will join the plan of the International Energy Agency (IEA) to carry out the largest release of strategic crude reserves in its history. The volume proposed by the organization more than doubles the 182 million barrels that were put on the market during the war in Ukraine, an initiative that, as the minister has stressed, will have the support of the Spanish Executive.
In his/her intervention at The Informative Breakfasts of Europa Press, Aagesen has detailed that the IEA's proposal is articulated on a voluntary basis by the member States and has recalled that the final decision must be adopted unanimously, something that, he/she has specified, is expected to occur in the coming hours.
The support of Spain
“On Spain's part, we are going to support, we have always been supportive and we understand that in this way we also support markets being less strained and that other countries, whose tensions are beyond prices, can have a response in the supply”, the third vice-president affirmed.
If all members of the IEA governing board give their approval, Spain will release around 12 days or 12 and a half days of its reserves, Aagesen specified, who recalled that at this moment stored stocks are equivalent to 92 days of consumption.
The head of Ecological Transition has added that, although it could be the case that some Member State shows itself against the operation, in the current conjuncture, marked by the rising cost of energy as a result of the conflict in the Middle East, it would be complicated for them to oppose the release of reserves.
(((THERE WILL BE AN EXPANSION)))