The government says it will actively join the international community’s release of strategic oil reserves to ease energy supply disruptions following Russia’s invasion of Ukraine.

According to the Ministry of Trade, Industry and Energy on Wednesday, minister Moon Sung-wook relayed Seoul’s stance during a ministerial board meeting of the International Energy Agency(IEA) the previous day.

Minister Moon said that South Korea, as a responsible member, supports the international community’s efforts to curb the armed invasion and resolve the situation peacefully, including the imposition of economic sanctions.

He said the South Korean government will actively join export curbs and financial sanctions, while also releasing oil reserves aimed at stabilizing the oil market.

The minister said as soon as the IEA decides on the timing and quantity of oil releases, the South Korean government will initiate the necessary procedures. Seoul will also coordinate with the international community on other energy sources if necessary, he said.