Japan Receives First Russian Oil Shipment Since Strait of Hormuz Closure

Japan has taken delivery of its first Russian crude oil shipment after the Strait of Hormuz shut down at the start of the Iran war. The tanker loaded at the Sakhalin-2 project in Russia’s Far East arrived off Imabari on May 4. Sources say wholesaler Taiyo Oil accepted the cargo at the economy ministry’s request to stabilise supplies of gasoline and naphtha for industry. With about 95% of its oil traditionally from the Middle East, Japan is under pressure to diversify. Prime Minister Takaichi warned of a severe Asia-Pacific supply squeeze and pledged urgent steps, alongside Australia, to secure stable energy.

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