South Korea is committed to helping stabilise the energy market amidst the conflict between Russia and Ukraine, Trade, Industry, Energy Minister Moon Sung-wook said.

Minister Moon made the statement during the International Energy Agency Ministerial Meeting between 23 and 24 March 2022, where he joined other officials in approving the release of oil reserves.

“Korea will actively participate with IEA and in the joint efforts of the international community for stabilization of the energy market in light of the Ukraine situation,” Moon said.

“Korea is willing to further assist in oil and gas cooperation measures in addition to the 4.42 million barrels of oil reserves set to be released.”

Guest post from Asian Power