Japan to provide $10-B fuel support to SE Asia
Japan has decided to provide a total of $10 billion in financial support to Southeast Asian nations struggling with surging crude oil prices amid tensions in the Middle East, government sources said on Wednesday.
The assistance will mainly take the form of loans aimed at helping countries secure crude oil supplies, and Prime Minister Sanae Takaichi is expected to announce the plan during an online meeting with Southeast Asian leaders later in the day, according to the sources.
Japan imports petroleum-derived products from Southeast Asia, including items used at medical facilities.
Many countries in the region maintain limited oil reserves, so there have been concerns that supply shortages could eventually affect shipments to Japan.
The surge in oil prices has raised concerns in some Southeast Asian countries over their ability to pay for imports.
Any disruption in procurement could have serious consequences for Japan’s medical sector and a wide range of industries, according to the sources.
