BERLIN, March 13 (Reuters) - German Economy Minister Katherina Reiche said on Friday that she saw both sides to the United States' decision to issue a 30-day waiver for the purchase of Russian oil
German Economy Minister Weighs US Waiver on Russian Oil Amid Supply Tensions
US Waiver on Russian Oil and Global Supply Concerns
German Perspective on US Decision
BERLIN, March 13 (Reuters) - German Economy Minister Katherina Reiche said on Friday that she saw both sides to the United States' decision to issue a 30-day waiver for the purchase of Russian oil products.
"It seems to me that domestic political pressure in the United States is very, very high," said Reiche at a press conference.
Concerns Over Russian Oil Revenue
She said that on the one hand she is concerned about filling Russian President Vladimir Putin's war coffers, but on the other hand, the situation in South Korea and Japan is very tense.
"We are thankfully not yet affected by these shortages," added Reiche.
International Response to Oil Supply Issues
IEA-Led Oil Reserve Release
She added that the International Energy Agency-led decision to gradually release oil reserves did not have the desired effect because attacks on ships in the Strait of Hormuz are ongoing.
The IEA on Wednesday said all 32 members agreed to release a record 400 million barrels of oil from strategic stockpiles to combat a spike in global crude prices since the start of the U.S.-Israeli war with Iran.
Uncertainty in the Strait of Hormuz
"The most important factor of uncertainty is whether a delivery will physically make it through the Strait of Hormuz, and that is the biggest factor of uncertainty and it has not been resolved at the moment," added Reiche.
(Reporting by Holger Hansen, Writing by Miranda Murray; editing by Matthias Williams)
