Japanese Minister of Economy, Trade and Industry: "Sufficient Oil Reserves... Efforts to Secure Crude Oil Supply Beyond the Middle East"

[Image source=Reuters Yonhap News]

[Asia Economy Reporter Jeong Hyunjin] Amid rising tensions of military conflict between the United States and Iran, Hiroshi Kajiyama, Japan's Minister of Economy, Trade and Industry, stated on the 7th that Japan has sufficient oil reserves and will work to procure crude oil from regions outside the Middle East.

According to NHK and other broadcasts, Minister Kajiyama told reporters on the same day, "Securing crude oil from the Middle East remains important going forward." He added, "To diversify sources of crude oil procurement, we will continue efforts to secure rights and develop resources outside the Middle East."

Minister Kajiyama said, "The Middle East is one of the key regions supporting global energy supply, and we are seriously concerned about the escalating tensions," adding, "We are closely monitoring the situation in the Middle East with caution and will assess the impact on Japan's energy supply in cooperation with oil companies."

He also emphasized, "Japan has secured oil reserves exceeding 20 days of domestic consumption and will take necessary measures in coordination with the International Energy Agency and related countries in case of emergencies," assuring that there will be no disruption in oil supply for the time being.

Meanwhile, despite the urgent situation in the Middle East, the Japanese government has decided to proceed with the planned dispatch of the Maritime Self-Defense Force. Defense Minister Taro Kono said after the Cabinet meeting on the same day, "Japan will continue diplomatic efforts," and that there is no consideration to change the Cabinet's decision. The Maritime Self-Defense Force is scheduled to be dispatched on the 11th.

However, Chief Cabinet Secretary Yoshihide Suga expressed strong concern regarding Iran's effective withdrawal from the nuclear agreement (JCPOA - Joint Comprehensive Plan of Action) the previous day, stating, "We strongly worry about Iran's unlimited uranium enrichment," and added, "We will strongly urge Iran to comply with the nuclear agreement."

This content was produced with the assistance of AI translation services.