TOKYO: The opening of the Strait of Hormuz may not happen soon, this is why Japan, which is heavily dependent on oil from the Middle East, n...
TOKYO: The opening of the Strait of Hormuz may not happen soon, this is why Japan, which is heavily dependent on oil from the Middle East, needs to be prepared for disruptions in energy supplies from the Persian Gulf for a long period, Tsuneo Watanabe, a senior fellow at the Sasakawa Peace Foundation, told TASS in an interview.
"The current ceasefire could give Japan a small hope of opening the Strait of Hormuz in the future. However, many realists, including me in Japan, believe it would not be open soon," he said.
"Japan needs to prepare for a shortage of energy flow from the Gulf states for longer than a year."
Japan receives about 95% of its oil from the Middle East, with the bulk of supplies passing through the Strait of Hormuz. Amid the worsening situation around Iran and disruptions in shipping in the Strait of Hormuz, the Japanese government has been looking for alternative sources of oil. In addition, Japan began to release oil from its strategic oil reserves.
The government believes that thanks to the reserves it will be able to fully meet the country's oil needs at least until the end of this year.
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