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world13h ago
Japan PM says oil crisis having ‘enormous impact’ in Asia Pacific
- Japan warns of an enormous impact from Strait of Hormuz oil disruptions amid Iran tensions, signaling urgency for energy security.
- Japan and Australia commit to closer energy, economy, defence and critical minerals cooperation during Takaichi’s Australia visit.
- Australia plans up to A$1.3 billion for critical mineral projects with Japanese involvement, expanding resource partnerships.
- The deal could help Japan access minerals vital for semiconductors and batteries, reinforcing supply chains.
- Japan and Australia outlined a framework for broader military cooperation amid growing regional security concerns.
- The visit included reaffirmation of joint statements on energy, the economy, defence and critical minerals.
- The Strait of Hormuz disruptions are a focal point for energy security strategies in the Indo-Pacific.
- Oil shipments through the Strait of Hormuz include significant shares destined for Asia, underscoring regional exposure.
- Australia confirmed a security and energy partnership with Japan aligned with US-led regional concerns.
- The article notes a broader shift toward securing critical minerals for high-tech and defence needs.
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