In a new development related to global oil supplies, Iranian Foreign Minister Abbas Araghchi stated that Iran is prepared to allow ships associated with Japan to transit the Strait of Hormuz. This strait is a vital artery for oil supplies, through which about 20% of the world's total oil passes.
In a telephone interview with the Japanese news agency, Araghchi indicated that Tehran has already begun discussions with Tokyo, which included Japanese Foreign Minister Toshimitsu Motegi, to explore the possibility of opening the strait to Japanese ships. This move comes at a time when the global market is experiencing a sharp rise in oil prices due to the conflict that has entered its fourth week.
Since the onset of the conflict, this war has prompted Japan and other countries to draw from their oil reserves in an attempt to alleviate the effects of the growing energy crisis. Allowing Japanese ships to traverse the strait is expected to help stabilize the oil market and strengthen economic relations between Tehran and Tokyo.
Through these measures, Iran aims to mitigate the negative impacts of the sanctions imposed on it, potentially opening the door for greater cooperation with other nations, including its regional allies.