Japan Secures Oil Necessary until Early 2027: Takaichi

Tokyo, April 7 (Jiji Press)--Japan has secured oil supplies to cover its demand until early 2027, Prime Minister Sanae Takaichi said Tuesday.

Speaking to reporters at the prime minister's office, Takaichi explained that this was the result of efforts to increase oil imports from the United States, as well as Middle Eastern countries that do not require shipments through the Strait of Hormuz, currently under a de facto blockade by Iran.

In particular, oil imports from the United States are expected to increase about fourfold from a year earlier in May, according to the prime minister.

She emphasized that the government will continue to approach oil-producing countries to increase oil imports that do not pass through the strait.

Meanwhile, Takaichi said that the government can use reserve funds under its just-enacted fiscal 2026 budget to extend gasoline subsidies, if necessary.

[Copyright The Jiji Press, Ltd.]