The Australian government will provide guarantees for additional fuel imports.

Australian Prime Minister Albanese announced on the 28th that, due to the Middle East conflict driving up global energy prices, the Australian government will provide guarantees for additional fuel imports, taking on relevant financial risks to ensure domestic supply. Albanese stated at a press conference in Sydney that the government will submit an amendment bill to the federal parliament on the 30th, allowing the government to provide guarantees for private suppliers to procure additional fuel, fertilizers, and other essentials through the official export credit agency, the Export Finance Australia. He said this would enhance private suppliers’ confidence in obtaining additional supplies. The Australian government noted in a statement that the relevant support is only applicable to additional supplies procured from the international market to ensure Australia’s energy security and does not target everyday transactions. Currently, fuel prices are surging across Australia due to supply shortages. Australia’s Minister for Climate Change and Energy, Chris Bowen, stated at the press conference that as of the 28th, Australia’s national reserves include 39 days’ worth of gasoline, 30 days’ worth of diesel, and 30 days’ worth of aviation fuel. (Xinhua)