EU officials: ready to use strategic oil reserves

On March 9th, local time, the Eurogroup meeting was held in Brussels, Belgium. At the press conference after the meeting, Eurogroup President Pierre Gacis said that they are closely monitoring the market's response to the developments in the Middle East, "We see that energy prices are facing upward pressure." He stated that the meeting that day discussed the types of measures member countries are considering, as well as the necessity of maintaining coordinated action while closely monitoring local situations. Additionally, they examined structural issues regarding European energy. European Commissioner for Economic Affairs Dombrovskis stated at the press conference that it is too early to discuss specific policy measures in response to the Middle East situation. He also mentioned that they are prepared to take necessary actions, including using strategic oil reserves.