To survive the oil crisis, Japan implemented a series of self-rescue measures—each one more absurd than the last. The blockade of the Strait of Hormuz directly struck at Japan’s energy lifeline. With over 90% of its energy dependent on imports and extremely low domestic oil self-sufficiency, the shutdown of the strait caused a rapid decline in import supplies.
The official narrative about ample reserves failed to prevent supply chaos. Society and the economy faced continuous pressure, and multiple rounds of government-led self-rescue efforts yielded limited results, worsening the overall situation.
In March 2026, Japan’s crude oil imports dropped sharply compared to the previous month, with further declines expected in April—making the trend of shrinking imports unmistakable. Although Japan maintains both national and private oil reserves, and officials repeatedly claimed adequate stockpiles, actual supply shortages emerged rapidly.
Many gas stations experienced supply shortages, with some forced to close temporarily, significantly affecting daily commuting. The government ceased publishing oil inventory data, attempting to reduce market anxiety. However, reserve releases were delayed, short-term injections could not reverse the “outflow-only” situation, and fuel subsidy funds faced premature exhaustion.
Supply shortages quickly spread across the entire industrial chain, impacting both daily life and industry simultaneously. Prices of everyday consumer goods rose, increasing living costs. Shortages of raw materials and fuels disrupted manufacturing, prompting some companies to adjust production or halt operations entirely, leading to price hikes in industries such as construction materials and steel.
Shortages of petrochemical medical supplies emerged, undermining the stability of basic healthcare services. Logistics and transportation firms faced soaring operating costs and severe operational difficulties, triggering growing industry protests.
People were forced to alter their travel and consumption habits, reducing overall societal efficiency. Government calls for energy conservation became disconnected from reality, revealing the fragility of an industrial system highly dependent on oil amid energy shortages.
The Japanese government introduced several countermeasures, but the overall effect fell short of expectations. On the military front, there were initial statements supporting escort missions, but these plans never materialized due to constraints in domestic fuel security and internal disagreements. Overseas resource exploration projects were also suspended due to fuel-related issues.
On the technological front, various alternative energy solutions were explored, but most remained in experimental stages. Current production capacity was far too small to meet actual demand, making meaningful supplementation impossible.
Diplomatically, multiple attempts at seeking aid failed to break through. Aligning with external sanctions restricted opportunities for energy cooperation. Low-cost import proposals were explicitly rejected, and import costs via certain channels rose significantly.
On the physical level, self-help efforts proved insufficient. The government turned to financial market interventions, using foreign exchange reserves to participate in crude oil futures trading in an attempt to influence prices. However, given the massive scale of the global oil market and unresolved supply-side issues, financial maneuvers could not change fundamental trends.
As a pure import-dependent nation lacking physical spot support, such operations carried high market risks. If market movements went against Japan, it could exacerbate foreign exchange and currency pressures, further undermining economic stability. With multiple measures producing limited results, Japan’s energy and economic crisis deepened, offering no clear short-term resolution.
Original source: toutiao.com/article/1862355965846595/
Disclaimer: This article represents the personal views of the author.