Source: Christian Science Monitor
by staff
“Japan, like much of Asia, which is highly reliant on Middle East oil and gas, announced Wednesday that it will provide $10 billion to many of its regional trade partners to find new supplies during the Strait of Hormuz crisis. As Prime Minister Takaichi Sanae put it, Asian countries ‘are mutually dependent’. Much of that money will go to Southeast Asia, where nations have reacted to the crisis by trying to revive a long-standing regional agreement to aid each other during a petroleum emergency. ‘What this crisis has confirmed is a structural truth: no single country in Asia can insulate itself from supply chain shocks of this scale by acting alone,’ said Philippine President Ferdinand Marcos Jr.” (04/15/26)