Japan will primarily sell oil from its strategic reserves to domestic refiners,
signaling no immediate plan to directly supply other Asian countries despite
regional shortages, Trade Minister Ryosei Akazawa said. The reserves are legally
intended to safeguard Japan’s own energy security, though Tokyo may consider
case-by-case decisions for joint stockpiles held with producers such as Saudi
Arabia, the United Arab Emirates and Kuwait.
While countries including the Philippines and Vietnam have sought Japan’s
support. Domestically, Tokyo is deploying fuel subsidies and seeking alternative
supply sources, including increased imports from the US and Central Asia, to
stabilize energy markets and protect industrial supply chains.
