Japanese news outlet Nikkei has reported that Japan's oil imports in March 2026 were 30 per cent lower compared to the previous month.
The month-to-month decrease was the highest since 2013, and was reported to be higher than the drop in imports in 2020 during the first few months of the Covid-19 pandemic.
Russian news outlet TASS said that, if the Strait of Hormuz will continue to be blocked, Japan's April oil imports may even be 40 per cent lower compared to February.
The country's government nonetheless remains confident that domestic oil needs can be met up to early 2027. Solutions being considered for achieving this goal include releasing a portion of strategic reserves, identifying alternative purchasing channels, and expanding imports from other countries such as the United States and Azerbaijan.
Like many countries in Asia, Japan depends heavily on importation for its oil supply requirements.
According to S&P Global, Japan sourced 95 per cent of its crude from the Middle East, particularly from the UAE (44 per cent) Saudi Arabia (40 per cent), Kuwait (seven per cent) and Qatar (four per cent).
