Sanae Takaichi stated that Japan's July oil imports will return to pre-Iran war levels. Japan has significantly diversified its supply chain away from the Middle East.
Sanae Takaichi said Japan's July oil imports will return to pre-Iran war levels.
Japan previously relied on the Middle East for over 90 percent of its oil imports but has significantly diversified its supply chain.
The statement was reported on June 11, 2026.
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Japan has revised its long-standing rules on lethal arms exports, prompting Chinese warnings of resurgent militarism amid heightened bilateral tensions.
Japan's Economic Security Minister Sanae Takaichi confirmed on April 10 that the country will release more oil from its national stockpiles next month, following initial draws in March amid Middle East war disruptions.
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Japan will procure crude oil from Russia for the first time since U.S.-Israeli strikes on Iran in February closed the Strait of Hormuz. A tanker carrying oil from Russia's Sakhalin-2 project is heading to the country, a trade ministry official said Saturday. Resource-poor Japan aims to diversify away from Middle East imports.
The government has extended its crude oil swap system with private firms until the end of June amid uncertainties around the Strait of Hormuz. The system was introduced in April to stabilize fuel supplies.
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Governments in Asia, the top oil-importing region, are seeking alternatives to shield economies from the energy crisis triggered by the Iran war. The Asian Development Bank cut its growth forecast for developing Asia to 4.7% this year. Oil imports to the region plunged 30% in April.