Tokyo [Japan], March 16 (ANI): Japan has begun releasing oil from its private-sector reserves to stabilize supply as the ongoing conflict with Iran continues to disrupt maritime traffic in the Middle East, NHK reported.
According to the broadcaster, the volume of fuel currently being released corresponds to about 15 days of consumption. Industry data indicates that oil-related companies in Japan hold reserves equivalent to approximately 70 days of supply.
In addition to these private stocks, the Japanese government maintains an independent emergency reserve and is expected to release about one month of supply later in March. Currently, Japan’s total emergency petroleum reserves account for 254 days of national demand, comprising national stockpiles, private-sector reserves, and joint reserves with producing nations.
The move follows a broader international effort by the International Energy Agency (IEA), which announced that nations across Asia and Oceania will immediately release 108.6 million barrels of oil. IEA Executive Director Fatih Birol confirmed that “unprecedented additional volumes of oil” are being introduced to the global market to mitigate the crisis.
However, Birol cautioned that while the release will help stabilize supply, “opening the Strait of Hormuz is vital for a return to stable flows,” as the maritime route remains a critical bottleneck for global energy security.
Amid these energy concerns, diplomatic efforts to secure the waterway have intensified. Japanese Defense Minister Shinjiro Koizumi held discussions with US Secretary of Defense Pete Hegseth, reaffirming Tokyo’s stance on the importance of maintaining peace and stability in the Strait of Hormuz.
During the conversation, Hegseth provided assurances that the conflict involving Iran would result in no changes to the deployment of American forces stationed in Japan. He also reiterated Washington’s commitment to enhancing the deterrence and response capabilities of the bilateral alliance.
In response, Koizumi expressed Tokyo’s intention to maintain close communication with the United States and other strategic partners. The discussions come as US President Donald Trump continues to urge international allies to dispatch naval assets to ensure that the Strait remains open for maritime traffic.
Despite the president’s call for roughly seven nations to send warships, several American allies have adopted a cautious stance. Australia has confirmed it will not provide naval support, with Cabinet Minister Catherine King stating, “We won’t be sending a ship to the Strait of Hormuz.”
Similarly, Prime Minister Sanae Takaichi said on Monday that Japan currently has no plans to deploy naval assets to escort vessels. Addressing the Japanese parliament, Takaichi clarified that Tokyo has not yet committed to any military involvement. According to a Reuters report, she noted that the government is still evaluating its options within the legal framework.
While some allies have issued refusals, others remain in deliberation. South Korea indicated that any potential move would occur only after a careful review, while in London, Prime Minister Keir Starmer held talks with Trump and Canadian Prime Minister Mark Carney to coordinate a response to global shipping disruptions.
The push for international intervention was detailed by Trump while speaking to reporters aboard Air Force One. He argued that nations dependent on Middle Eastern crude should assist in policing the waterway to protect “their own territory.”
Trump also highlighted China as a major stakeholder, noting that Beijing secures a large share of its oil supplies through the Strait of Hormuz, though he did not confirm whether China would participate in any coalition.
Despite these appeals, no concrete military commitments have been secured as global oil prices continue to rise. (ANI)
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