US, other nations release 60 million barrels of oil to soften energy issues related to invasion

The US and allied nations announced an agreement Monday in which they'll release 60 million barrels of oil from their reserves, to try soften the impact of rising energy prices as the result of Russia's invasion of Ukraine. 

The announcement was made by the White House and the International Energy Agency, according to CNN. 

Half of that total barrels will come from the U.S. Strategic Petroleum Reserve and the remainder will come from allies in Europe and Asia. Those other allies include Germany, Italy, the Netherlands, the United Kingdom and other major European countries as well as Japan and South Korea, the wire service also reports. 

The agency says its member participation will send a "strong message to global oil markets that there will be no shortfall" as a result of the Ukraine.

White House called the multi-national effort "another example of partners around the world condemning Russia's unprovoked and unjustified invasion of Ukraine."