Japan Launches State Aid for Oil Importers Hit by Hormuz Transport Costs
🛢️ TOKYO — Tokyo subsidizing tanker premiums means it's pricing in a long Hormuz crisis. 📌 LOOK CLOSER: Insurance and transport costs from Hormuz rose from $2 to $33 per barrel — Japan, nearly 90% import-dependent, can't absorb that without state intervention. Cabinet backing signals Tokyo sees no near-term reopening. It also sets a precedent: other import-dependent economies will face the same pressure to socialize Hormuz risk.