Japan’s government has moved decisively to protect its energy supply, announcing the biggest release of oil from its strategic reserves in the country’s history. Prime Minister Sanae Takaichi revealed that about 80 million barrels of stockpiled crude will be made available to refiners as Middle East tensions escalate. The US-Israel military operation against Iran has placed the Strait of Hormuz — a vital oil shipping corridor — under threat. For Japan, which imports more than 90% of its crude from the region, the stakes could not be higher.
The Strait of Hormuz connects the Persian Gulf to global shipping lanes and is among the world’s most strategically critical waterways. Any prolonged closure would be catastrophic for energy-importing nations like Japan. Tokyo has been monitoring the situation closely, and last week the government approved a separate release of 15 days’ worth of private-sector oil stocks. The combined government and private release is designed to keep Japan’s refineries operating through any potential supply gap.
At 80 million barrels, this release is 1.8 times greater than the emergency drawdown after the 2011 Fukushima disaster. That event forced the temporary shutdown of all of Japan’s nuclear power plants, dramatically increasing the country’s reliance on imported fossil fuels. The current reserves stand at around 470 million barrels — approximately 254 days of domestic use. The scale of the current release underscores the severity of the threat perceived by Tokyo.
The government has also capped gasoline prices through new subsidies, keeping retail fuel below ¥170 per litre. Prices had climbed to a record ¥190.8 before the intervention. Subsidies will be adjusted weekly to reflect real-time oil market conditions. This proactive approach is intended to prevent inflation from eroding consumer purchasing power.
Panic-buying has broken out among some consumers, with social media posts warning of shortages in toilet paper, cat food, and beer. The trade ministry swiftly countered these claims, stressing that domestic production covers 97% of Japan’s toilet paper needs and is unaffected by Middle Eastern supply disruptions. Industry leaders urged citizens to purchase only what they need and avoid fuelling unnecessary anxiety. Maintaining public calm, officials said, is as important as stabilising energy supplies.