Japan will provide support worth about $10 billion to help strengthen energy supply in Asia

External Affairs Minister S. Jaishankar on Wednesday said that attacks on merchant vessels are “completely unacceptable.” His remarks came during the ‘Azec Plus’ meeting hosted by Japan, where leaders discussed disruptions in global energy supply chains.

In a post shared on X after the meeting Jaishankar said that India remains strongly committed to ensuring safe and smooth passage for maritime shipping. He underlined that global economic growth depends heavily on uninterrupted energy supplies, which in turn rely on secure sea routes.

Prime Minister Takaichi Sanae has announced Japan will provide support worth about 10 billion dollars to help strengthen the energy supply in Asia and ensure the country can secure a steady supply of petroleum-based medical supplies.


Amid ongoing tensions between the United States and Iran over navigation through the Strait of Hormuz, Takaichi unveiled the package on Wednesday at an online summit meeting of the Asia Zero Emission Community Plus, or AZEC Plus. Leaders of nations in the Indo-Pacific region also attended the meeting that lasted for around one hour.

Takaichi, who served as the chair, announced the Partnership On Wide Energy and Resources Resilience, or POWERR Asia, featuring the 10-billion-dollar package.

The framework will help Japan secure oil-derived medical products, such as gloves and plastic items used in dialysis.

As an emergency measure, the initiative will help Asian nations in smoothly procuring crude oil from the United States and other sources through financial assistance from Japan Bank for International Cooperation and other channels.

To boost overall oil stockpiles in Asia, the framework also features assistance in introducing the systems Japan uses for stockpiling and releasing oil.

Takaichi compiled the chair's statement. It says Asian economies are deeply interconnected through supply chains. The statement notes that the participants concurred on the importance of joint efforts by Asian countries, as well as the significance of ensuring safe passage of vessels through the Strait of Hormuz.