Japan Urges Continuity of Economic Activity Despite Energy Disruptions

(MENAFN) Japan’s prime minister states on Monday that the country’s economic and social functions must continue without interruption despite disruptions in energy supplies linked to the ongoing conflict in the Middle East, according to reports.

Prime Minister Sanae Takaichi makes the remarks during parliamentary discussions in response to questions from an opposition lawmaker about whether emergency economic measures are needed. She argues that maintaining normal activity remains essential at this stage.

"I do not believe economic or social activity should be halted at this point," Takaichi said in response to a question in the parliament from an opposition lawmaker on the need to implement emergency economic measures.

Her comments come shortly after the government had called on the public to reduce energy consumption due to uncertainty in supply conditions stemming from the conflict.

The situation has been further complicated by disruptions in global energy routes, with concerns raised over the Strait of Hormuz and its impact on oil shipments to Asia. Japan, which depends heavily on Middle Eastern crude imports, has been particularly affected.

Authorities have already drawn from national strategic oil reserves on two occasions, with another release planned for early May, as stated by reports.

Takaichi also notes that the government is currently working to diversify oil supply sources in order to reduce vulnerability to external shocks.

At this stage, she indicates that there is no immediate need for a supplementary budget, explaining that existing reserve funds are sufficient to manage the situation if necessary.

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