Japan Allocates Funds and Begins Releasing Oil Reserves to Ease Iran Impact
The Japanese government has decided to spend approximately 800 billion yen from its reserve fund to mitigate sharp gasoline price increases and will begin releasing 30 days' worth of state-held oil from Thursday to cushion the economic impact amid the ongoing Middle East conflict.
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Japan to start release of state oil reserve on Thursday to ease Iran impact
The Japanese government said it will start releasing 30 days’ worth of state-held oil from Thursday to cushion the impact on the economy as concerns over supply mount and oil prices soar amid the ongoing US-Israeli war on Iran. On Tuesday, the industry ministry announced that the government plans to sell a total of about 8.5 million kilolitres of oil from 11 storage bases across the country, following the private sector’s release of 15 days’ worth of oil stockpiles last week. According to the...
By Kyodo
Read full article →Japan to release national oil reserves from Thursday, says PM - The Star
Japan to release national oil reserves from Thursday, says PM The Star
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