Japanese Minister Visits Middle East Oil-Producing Nations, Hopes to Promote Stable Crude Oil Supply

Japan-Iran War Key News

(Central News Agency, Paris, 5th, comprehensive foreign report) Japanese Minister Akazawa Ryosei has visited Saudi Arabia and the United Arab Emirates this week. With conflicts in the Middle East potentially leading to a continuous blockade of the Strait of Hormuz, Akazawa stated that a consensus has been reached with ministers from both countries to promote a stable crude oil supply.

According to Jiji Press and NHK, Akazawa, who currently serves as Japan's Minister of Economy, Trade and Industry, visited the aforementioned two countries on the 4th and 5th of this month. Both countries are major crude oil suppliers to Japan.

After concluding his trip to the Middle East, Akazawa arrived in Paris, France, on the 5th and informed the media about the results of his visits to Saudi Arabia and the UAE.

He stated that during his meeting with H.E. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, he requested the UAE to reliably expand its supply to Japan and proposed several initiatives, such as cooperating on increasing crude oil reserves in Asia and Japan's investment in building future alternative supply channels. Both sides agreed to concretize these proposals.

Akazawa also explained that during his meeting with Prince Faisal bin Farhan, Saudi Arabia's Minister of Foreign Affairs, both sides reached a consensus on further strengthening cooperation on energy supply mechanisms.

Akazawa stated that he will continue negotiations online with Prince Abdulaziz bin Salman, Saudi Arabia's Minister of Energy, on the 7th of this month.

Japan's Ministry of Economy, Trade and Industry (METI) stated that the UAE is Japan's largest crude oil import source, and Saudi Arabia is the second largest, with both countries combined accounting for 80% of total imports. (Compiled by: Yang Wei-ching) 1150506

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