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BERLIN — <\/span>Germany and Austria say they are releasing parts of their oil reserves<\/a> following an International Energy Agency request for its members to release 400 million barrels to help temper energy price spikes due to the Iran war.<\/p>\n Japan also said it will release some of its reserves starting Monday.<\/p>\n The largest-ever previous collective release of emergency stocks by IEA member countries was 182.7 million barrels, in the wake of the energy shock prompted by Russia\u2019s full-scale invasion of Ukraine in 2022.<\/p>\n IEA members currently hold over 1.2 billion barrels of public emergency oil stocks, with a further 600 million barrels of industry stocks held under government obligation.<\/p>\n In response to US and Israel strikes, Iran has attacked commercial ships<\/a> across the Persian Gulf, escalating a campaign of squeezing the oil-rich region as global energy concerns mount.<\/a> Iran has effectively stopped cargo traffic in the narrow Hormuz Strait through which about a fifth of all oil is shipped from the Persian Gulf toward the Indian Ocean.<\/p>\n It has also targeted oil fields and refineries<\/a> in Gulf Arab nations, aiming at generating enough global economic pain<\/a> to pressure the United States and Israel to end their strikes.<\/p>\n G7 energy ministers on Tuesday had announced they supported in principle \u201cthe implementation of proactive measures to address the situation, including the use of strategic reserves.\u201d<\/p>\n According to the IEA, export volumes of crude and refined products are currently at less than 10% of pre-war levels.<\/p>\n ___<\/p>\n Petrequin reported from Paris.<\/p>\n<\/div>\n