A vessel is seen anchoring off the coast of Dubai, United Arab Emirates, 01 March 2026. Following a joint Israel-US military operation targeting multiple locations across Iran in the early hours of 28 February 2026 and Iran’s retaliatory attacks across the region, many ships are anchored as Iran threatened to close the Strait of Hormuz, where hundreds of ships carrying oil pass daily, potentially affecting worldwide trade. Photo by STRINGER / EPA
March 1 (Asia Today) — Japan is closely monitoring the risk of a potential blockade of the Strait of Hormuz as tensions surrounding Iran intensify, with officials and media warning of possible energy supply disruptions similar to those faced by South Korea.
Japan relies on the Middle East for about 90% of its crude oil imports, most of which passes through the narrow waterway connecting the Persian Gulf to global markets. South Korea imports roughly 70% to 90% of its crude from the same region, making both economies vulnerable to prolonged instability.
Japanese newspapers including The Asahi Shimbun and The Yomiuri Shimbun reported Saturday that shipping traffic in the strait has already been affected following recent U.S. and Israeli strikes on Iran. According to Asahi, Iran’s Revolutionary Guard has broadcast warnings to vessels transiting the strait, prompting some tankers to halt operations or reroute. British maritime authorities said several ships reported receiving notifications that the waterway was “blocked,” though the actual status could not be independently confirmed.
About 20 million barrels of crude oil pass through the Strait of Hormuz each day, making it one of the world’s most critical energy chokepoints. The Yomiuri said roughly 80% of tankers bound for Japan transit the strait, raising concerns that a prolonged disruption could lead to supply shortages and sharp price increases.
The Japanese government convened a National Security Council meeting Friday night to assess the situation, focusing on the safety of Japanese nationals and potential economic fallout. The Foreign Ministry issued an advisory urging about 200 Japanese citizens in Iran to consider evacuation while commercial flights remain available.
Japan’s trade ministry said the country holds combined public and private petroleum reserves equivalent to about 254 days of domestic consumption as of the end of December, providing a short-term buffer against supply shocks. However, media outlets warned that stockpiles would not shield consumers from rising fuel costs.
On commodity markets, West Texas Intermediate crude has risen about 17% over the past two months, with the April contract settling at $67.83 on Feb. 27, the highest level in six months. Japanese analysts cited projections that oil could exceed $100 per barrel if Hormuz traffic is severely disrupted, potentially shaving 0.3% to 0.6% off Japan’s gross domestic product.
Analysts note that South Korea shares similar structural exposure, as most of its Middle Eastern oil imports also pass through Hormuz and the Strait of Malacca, underscoring the broader regional economic risks tied to escalating tensions.
— Reported by Asia Today; translated by UPI
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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260301010000068