Japan Presses Asia to Expand Oil Reserves as Hormuz Risks Persist
Photo: TokenPost
Japan is pushing Asian governments to build shared oil reserves and coordinate emergency releases as Middle East tensions threaten regional energy security and disrupt crude flows. Japan and the Philippines agreed in May to explore joint oil stockpiling across the Association of Southeast Asian Nations. Japan plans to develop a roadmap through the Economic Research Institute for ASEAN and East Asia and present it at autumn meetings involving ASEAN and the Asia Zero Emission Community. “We plan to develop a roadmap for establishing a joint stockpiling system,” Japan’s Minister of Economy, Trade and Industry Ryosei Akazawa said.
Source: TokenPost
