Japan Taps State Oil Reserves Amid Ongoing US-Israeli War Against Iran
The emergency measure follows Japan's decision last week to unlock private-sector stockpiles, and is designed to shield the world's third-largest economy from mounting Middle East supply shocks, media reported.
Takaichi further disclosed that joint oil reserves belonging to Middle Eastern producing nations — currently held on Japanese soil — will also be mobilized before the month's end.
"The peace and stability of the Middle East are extremely important for Japan and the international community," she said.
Tokyo, she stressed, would continue to "make all necessary diplomatic efforts in close coordination with related countries."
The prime minister noted that during her Washington summit with US President Donald Trump last Thursday, both leaders underscored the critical need to guarantee uninterrupted energy flows by protecting freedom of navigation through the Strait of Hormuz — a pivotal artery for global oil transit that Iran has effectively shut down.
The regional crisis has deepened steadily since US and Israeli forces launched coordinated strikes on Iran on Feb. 28. Tehran has since responded with successive drone and missile salvos directed at Israel and Gulf states where American military personnel are stationed.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
