Japan PM Takaichi pledges $10B in financial aid to Asia to tackle oil shortage

Japan will provide a total of $10 billion in financial support to other Asian nations to help them secure crude oil supplies, Prime Minister Sanae Takaichi said Wednesday, amid energy shipping disruptions caused by Middle East tensions, Report informs via Kyodo.

Takaichi told reporters after an online meeting with her counterparts from the Association of Southeast Asian Nations and others that the planned financial aid is equivalent to up to 1.2 billion barrels -- about one year of crude oil imports by ASEAN countries.