TOKYO, April 10. /TASS/. Japan needs to restore and develop relations with other oil suppliers, including Russia and Latin American states, amid the aggravation of the situation around Iran, which may trigger a shortage of crude supplies from the Persian Gulf, Tsuneo Watanabe, a senior fellow at the Sasakawa Peace Foundation, told TASS in an interview.

"Japan needs to cooperate with other countries to encourage the US and Iran to continue ceasefire negotiations as productively as possible," he said about what actions Japan needs to take in the current circumstances.

Watanabe said Japan needed to maintain relations with major oil suppliers outside the Persian Gulf.

"On the other hand, Japan needs to maintain, repair and develop closer relations with other oil exporting countries, other than the Gulf states, including Russia or the Latin American countries," he added.

According to the expert, the opening of the Strait of Hormuz may not happen soon despite a ceasefire between the United States and Iran, and this is why one needs to be prepared that a shortage of supplies from the Persian Gulf countries will persist for more than a year.

Japan received about 95% of its oil from the Middle East in recent years, with most of these supplies passing through the Strait of Hormuz. Amid the worsening situation around Iran and disruptions in shipping in the strait, the Japanese government has been looking for alternative sources of oil. In addition, Japan began to release oil from its strategic reserves. The Japanese government believes that thanks to its reserves it will be able to fully meet the country's oil needs at least until the end of this year.

Russian oil

Japanese officials do not mention Russia among possible alternative oil suppliers. At the same time, there are calls in Japan for the resumption of oil purchases from Russia. This point of view is shared, for instance, by Muneo Suzuki, a member of the upper house of parliament from the ruling Liberal Democratic Party (LDP). He told TASS that he had raised the issue at a party meeting. Suzuki also advocates the lifting of economic sanctions against Moscow.

Japan’s Kyodo news agency reported that the government plans to send an economic delegation to Russia in May, and the issue of Russian oil supplies may also be discussed. Foreign Minister Toshimitsu Motegi, responding to a TASS correspondent, denied this report. However, a senior government source on the Asahi TV channel said that if the blockade of the Strait of Hormuz drags on, Russia will need to be considered as an alternative supplier.

After February 2022, Japan refused to import Russian oil, later joining the mechanism initiated by Western countries to raise the price ceiling, with the exception of small shipments from the Sakhalin-2 LNG project.