Flag of Japan. Photo by Kulbir on Pexels.com
Japanese Prime Minister Sanae Takaichi announced Tuesday that the government will begin releasing oil from state reserves on Thursday to mitigate the impact of supply disruptions caused by the ongoing US-Israeli conflict with Iran.
The measure follows Japan’s release of oil from private-sector stockpiles last week, aimed at stabilizing domestic energy prices.
Takaichi said joint oil reserves from Middle Eastern producers stored in Japan will also be tapped by the end of the month.
She emphasized that peace and stability in the Middle East are vital for Japan and the international community.
The prime minister added that Tokyo will continue diplomatic efforts in coordination with other countries to ensure regional stability.
Takaichi recalled a summit in Washington last Thursday with US President Donald Trump, during which they stressed the importance of securing safe navigation in the Strait of Hormuz, a crucial oil shipping route currently affected by Iran.
The regional conflict intensified after US and Israeli strikes on Iran began on February 28, prompting Iranian retaliatory drone and missile attacks targeting Israel and Gulf nations hosting US forces.
