Evian, France, June 17 (ANI): Japanese Prime Minister Sanae Takaichi introduced the “POWERR Asia” framework to leaders attending the G7 Summit and proposed strengthening global oil stockpiles in collaboration with the International Energy Agency (IEA).
During discussions on West Asia, where she was joined by the leaders of Egypt, Qatar, and the United Arab Emirates, Takaichi highlighted the importance of free and safe navigation through the Strait of Hormuz and presented Japan’s “POWERR Asia” initiative.
In a post on X, she said, “I also introduced ‘POWERR Asia,’ which Japan has launched, and proposed supporting the strengthening of oil stockpiles in various countries in collaboration with the International Energy Agency (IEA), which received support.”
The “Partnership on Wide Energy and Resources Resilience (POWERR Asia)” is a new cooperation framework introduced by Takaichi earlier this year in April. The initiative aims to provide emergency responses through financing for crude oil procurement, petroleum products, and supply chain maintenance in Asia, while also securing critical minerals and diversifying energy resources.
In her discussions with US President Donald Trump, Takaichi welcomed the peace agreement between the United States and Iran and discussed implementing the Japan-US agreement on tariffs.
The two leaders also agreed to maintain close communication on key international issues, including developments involving China.
“We also confirmed that we will continue close communication on responses to international situations surrounding the Indo-Pacific region, including China, and the Middle East,” Takaichi said.
She also provided details on discussions regarding Ukraine, emphasizing that the G7 would continue cooperating with Kyiv to achieve peace.
“I emphasized that we must not tolerate attempts to unilaterally change the status quo by force, including Russia’s invasion of Ukraine. I also expressed concerns about military cooperation between Russia and North Korea, as well as the strengthening of military ties between Russia and China,” she said in a post on X.
Takaichi also met Prime Minister Narendra Modi on the sidelines of the G7 Summit in the alpine resort town, where the two leaders discussed enhancing economic cooperation and identified trade and investment as priority areas.
Earlier, discussions among G7 leaders focused on geopolitical developments, including the Russia-Ukraine conflict, the security situation in West Asia, and challenges posed by China during the working dinner on Tuesday, Takaichi said. (ANI)
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