00:00Japan says it will establish a financial framework worth about $10 billion to help Asian countries procure energy resources like
00:07crude oil as the war in the Middle East drives prices higher and disrupts supply chains.
00:13Prime Minister Sanei Takaichi says Wednesday, April 15, the support will be equivalent to as much as 1.2 billion
00:19barrels of oil or about one year's worth of crude oil imports by ASEAN countries.
00:23She makes the announcement after a meeting of the ASEC Plus under the Japan-led initiative Asia Zero Emission Community,
00:30which leaders of the Philippines, Malaysia, Singapore, Thailand, Vietnam, and other countries attended.
00:35No further details were available on how the support will be extended.
00:39Compared to Japan, Southeast Asian countries hold smaller oil stockpiles.
00:42But when asked whether countries requested access to Japan's oil reserves following the ASEC Plus meeting, Takaichi stresses the agreement
00:49did not involve a release of its stockpile and would not affect domestic supply.
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