Japan's oil subsidy may be upped fivefold on Ukraine crisis

Politics Economy

The Japanese government is considering raising its subsidy for oil wholesalers to a maximum of 25 yen per liter from the current upper limit of 5 yen in an attempt to deal with soaring crude oil prices triggered by Russia's invasion of Ukraine, an official with knowledge of the matter said Friday. The plan is aimed at easing the impact of rising prices on households and businesses, with the government expected to announce the specifics next week. "For the time being, we will suppress surging retail prices by greatly expanding and strengthening the mitigation program," Prime Minister Fumio Kish...

Kyodo News

Kyodo News