Australia to build USD 7.22 billion fuel reserve to "shield" nation from global supply shocks

Iran Herald · May 6, 2026 Sanctions

Canberra [Australia], May 6 (ANI): In a strategic move to fortify the nation against volatile global energy markets, Australian Prime Minister Anthony Albanese has unveiled a 10 billion Australian dollar (USD 7. 22 billion) initiative designed to bolster national fuel inventories.