Japan won't be affected if Iran closes Strait of Hormuz - FM

Japan will not be seriously affected even if Iran closes the Strait of Hormuz, as it has enough oil and liquefied natural gas in reserve, Foreign Minister Koichiro Gemba said on Friday, The Mainichi Daily News reports.

Gemba also told reporters that he does not expect the flow of oil through the strait to be disrupted for a long period of time, even if it is closed, adding that the Japanese government is prepared to bring energy sources from abroad in many different ways.

About 80 percent of Japan's imported oil passes through the Strait of Hormuz, amid the standoff between the West and Iran over Tehran's nuclear program.

Gemba said that Japan has stockpiled oil reserves equivalent to about 200 days' worth of consumption and about 70 days' for LNG.

"Economically it is not wise for Iran either" to close the strait, given that the Middle Eastern country is highly dependent on revenues from its oil exports, Gemba said. "In order to punish others, it would be very much like shooting oneself in the head."

To prevent Iran from taking provocative steps, Gemba said that "effective sanctions" against the country are needed and Japan still believes it is vital to solve the nuclear issue "diplomatically and peacefully."
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