“The International Energy Agency has called on its member countries to voluntarily release oil reserves,” said the Economics Minister. The Federal Council can only release Switzerland’s reserves in the event of a serious shortage. “There is therefore no legal basis to respond positively to the current appeal.”
And the compulsory camps could also be released to fulfill international obligations, even if there is no threat or lack of supply at home, said Parmelin.
The easing of sanctions against Russia due to the sharp rise in oil prices was not a topic of discussion at the Federal Council meeting on Friday, said Vice Chancellor Nicole Lamon when asked by Keystone-SDA.
In response to the Iran war, the International Energy Agency (IEA) decided on Wednesday to release 400 million barrels of crude oil. The move is intended to stabilize markets that have been strained by the war. The IEA has 32 member states, including Switzerland.
Switzerland also has mandatory camps that can be released if necessary. According to the federal government, these are owned by the companies trading in the products.
For petroleum products they cover the national demand for 4.5 months, for aviation petroleum it is 3 months, as the spokesman further said. This corresponds to around 14.5 million barrels of gasoline and diesel oil as well as around 8.6 million barrels of heating oil and 2.4 million barrels of aviation petroleum. (sda)