Takaichi made the remarks on Monday during a visit to Australia, where both nations signed agreements to strengthen cooperation on energy and critical minerals
The global oil supply crunch caused by shipping disruptions in the Strait of Hormuz during the US-Israeli war with Iran is having a major impact across the Asia-Pacific region, Japan’s Prime Minister Sanae Takaichi has warned.
Takaichi made the remarks on Monday during a visit to Australia, where both nations signed agreements to strengthen cooperation on energy and critical minerals.
About one-fifth of the world’s oil and liquefied natural gas normally passes through the Strait of Hormuz.
However, shipments have been largely disrupted since Iran was attacked by the United States and Israel on February 28.
According to the International Energy Agency, around 80 percent of that oil is exported to Asia.
“The effective closure of the Strait of Hormuz has had an enormous impact on the Indo-Pacific,” Takaichi said, adding that Japan and Australia have agreed to stay in close contact and respond urgently to the situation.
Australia supplies about one-third of Japan’s energy needs and is its largest source of liquefied natural gas.
Both Tokyo and Canberra have been working to secure alternative energy supplies amid the ongoing conflict.
Australian Prime Minister Anthony Albanese also expressed concern, saying disruptions to liquid fuel and refined petroleum supplies are a serious issue for both countries.
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