On March 17 local time, Spanish Minister for Ecological Transition Teresa Ribera announced at a press conference that in response to the oil supply shortage caused by the partial closure of the Strait of Hormuz, the government has approved the release of up to 11.5 million barrels of oil reserves within 90 days. Ribera explained that this release aligns with the International Energy Agency's plan to release up to 400 million barrels of oil and will be carried out in phases, with the first phase beginning in 15 days. (Liao Junhua)