Japan Says Oil Reserves for Domestic Use Amid Asia Pleas for Aid

Japan’s trade minister said the country will sell oil from its reserves to domestic refiners as a general rule, signaling that the government isn’t currently planning to channel national supplies directly to other Asian nations seeking assistance.

“Regarding the sale of strategic petroleum reserves, we are certainly targeting domestic oil and refining companies,” Trade Minister Ryosei Akazawa said Friday, pointing out that they were legally established to secure Japan’s own energy supplies. “However, the situation may differ somewhat for joint reserves with oil-producing countries. We intend to closely monitor developments and make appropriate decisions on a case-by-case basis.”