PARIS – Japan and Germany said on March 11 they would tap into their oil reserves to tackle the rise in crude prices due to the Middle East war, with Berlin saying the International Energy Agency (IEA) had asked member states to release 400 million barrels.

France, the current chair of the Group of Seven (G-7) countries, said nations were coordinating their steps as G-7 energy ministers said they stood ready to take “all necessary measures”.