Japan offers Asian countries $10 billion in financial support for oil

Japan to support Asian oil purchases with $10 billion framework

TOKYO, April 15, 2026 – Japan will establish a USD 10-billion financing framework to help Asian countries secure energy resources and build oil stockpiles as tensions in the Middle East strain supply chains, Reuters reported on Wednesday.

The support will be channelled mainly through state-backed entities such as Japan Bank for International Cooperation and Nippon Export and Investment Insurance, with disbursements aimed at facilitating the purchase of crude oil from alternative sources, such as the US, and the construction of storage tanks, as well as to support companies and governments connected to Japan’s supply chains.

In statements after a meeting of the Japan-led Asia Zero-Emission Community, Prime Minister Sanae Takaichi said Japan’s package would be equivalent to as much as 1.2 billion barrels of oil. Japan also plans to release an additional 36 million barrels from its national oil reserves starting in early May.

“We are closely interconnected with Asian countries through supply chains and other channels, and we are mutually dependent. Supporting Asian countries’ supply chains would, in turn, bolster Japan’s own economy,” said Takaichi.

Supplies of crude oil and refined petroleum products have tightened in Southeast Asian countries, disrupting the production of plastic healthcare products that Japan buys from the region.

Takaichi stressed that the agreement did not contemplate regional releases from its crude stocks and would not affect domestic supply.

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