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“It depends on the situation on the market. If it’s necessary we will start to act,” Sadamori said.
In May, the Wall Street Journal reported quoting sources that the US could slap new sanctions on Russia which would cover the oil industry.
The agency manages oil reserves of 28 largest oil consuming nations, including the US, and has intervened on the market three times since its establishment, in 1991, 2005 and 2011.