Japan considers releasing oil reserves amid Iran crisis

Japan is reportedly considering tapping into its national oil reserves in response to the ongoing crisis involving Iran.

The country depends heavily on the Middle East for its energy needs, with approximately 95% of its oil imports originating from the region. Around 70% of these supplies pass through the Strait of Hormuz, which has been effectively closed due to regional tensions, Caliber.Az reports via Reuters.

Japan maintains emergency national reserves equivalent to roughly 146 days of domestic consumption. In addition, the country has private-sector stockpiles and joint reserves with oil-producing nations, providing multiple layers of supply security should disruptions continue.

By Sabina Mammadli