Japan Releases Oil Reserves Amidst Global Coordination, Rejects Ormuz Deployment
Tokyo, Japan – Japan has begun releasing its strategic petroleum reserves as part of a coordinated global effort to stabilize oil prices amid escalating tensions in the Middle East, but has ruled out joining a potential security operation in the Strait of Hormuz despite calls from the United States. The move comes as the International Energy Agency (IEA) orchestrates the largest release of emergency oil stocks in its more than 50-year history.
The IEA’s decision, announced on Wednesday, involves the release of 400 million barrels of oil from its 32 member countries, intended to counter the sharp price increases triggered by the ongoing conflict in the region. According to the IEA, the reserves of Asian and Oceania nations are being released “immediately,” even as those of the Americas and Europe will follow “by the conclude of March.”
Japan, heavily reliant on Middle Eastern oil, confirmed it would begin tapping its strategic reserves today, . The government has initially reduced the required levels of private oil reserves, releasing a volume equivalent to 15 days of national consumption. Prime Minister Sanae Takaichi previously indicated plans to release additional stock from state-owned reserves, potentially covering a further month of consumption, a move expected to occur by the end of March.
As of December, Japan’s combined strategic petroleum reserves – both public and private – totaled over 400 million barrels, representing a stockpile sufficient for 254 days of national consumption. Government spokesperson Minoru Kihara stated today that crude oil imports to Japan are expected to decline significantly from the end of March, coinciding with continued disruptions to tanker traffic through the Strait of Hormuz.
“To ensure that no disruption will compromise the supply of petroleum products such as gasoline, we have decided that Japan will take the initiative of drawing down national strategic reserves, in coordination with the G7 nations and the IEA,” Kihara said.
The IEA has, to date, secured commitments for 172.2 million barrels from the United States, approximately 110 million barrels from Asia-Oceania (including 66.8 million barrels from state reserves and 41.8 million from industrial reserves), and a similar amount from Europe, with one-third of the European contribution coming from state reserves.
The agency underscored that the current situation represents “the largest disruption to oil supplies in the history of the global oil market.” While acknowledging the collective emergency action as a “significant and welcome buffer,” the IEA emphasized that the resumption of navigation through the Strait of Hormuz – a vital artery for approximately 20% of the world’s crude oil – remains the most critical factor for restoring stability.
Oil prices have surged since the start of the Israeli-American offensive against Iran on , effectively paralyzing traffic through the Strait. Approximately 95% of Japan’s crude oil imports originate in the Middle East, and 70% historically transited the Strait of Hormuz prior to the current conflict.
Despite the escalating situation, Japan has indicated it does not foresee participation in a maritime security operation, responding to a call from U.S. President Donald Trump for allies, including NATO members and China, to collaborate on securing the Strait of Hormuz. Defense Minister Shinjiro Koizumi stated in parliament that Japan does not intend to dispatch forces for such an operation.
Prime Minister Takaichi too acknowledged the “extremely difficult” legal considerations surrounding any potential security operation. The deployment of Japan’s Self-Defense Forces abroad is a sensitive political issue, given the nation’s officially pacifist constitution, adopted in 1947 under U.S. Auspices, which renounces war as a means of settling international disputes.
The situation is further complicated by growing discussions regarding Japan’s energy future. Recent reports suggest that the energy crisis may push Japan, along with Taiwan, to reconsider its stance on nuclear energy. While Taiwan recently considered abandoning nuclear power altogether, the current geopolitical climate may lead to a reevaluation of that position. In Japan, efforts to reopen existing nuclear plants are becoming increasingly likely.