US Energy Secretary Jennifer Granholm announced that the US, with 30 countries, has agreed to release 60 million barrels of oil to stabilize the global energy market.

In a statement, Granholm said that Washington, in cooperation with 30 countries, would release 30 million barrels of strategic reserves to stabilize global energy markets.

Granholm added that US President Joe Biden had authorized the release of 30 million barrels of oil from US strategic oil reserves and continued: "We are prepared to take additional action if the need arises."

The action comes against the backdrop of Western efforts by the European Union and Washington to abandon Russia as a major global energy producer and to avoid rising energy prices caused by the war in Ukraine.

Over the past few days, Western countries have adopted a package of severe economic sanctions against Russia, in an attempt to pressure Moscow to stop its military operation in Ukraine to protect the populations of the peoples of the Republic of Lujansk and Donetsk.

Edit: Ahmed Al-Kumy