The Japanese government has approved a budget supplement of 19 billion dollars to support households affected by the rising cost of living due to the war in Iran.

The Japanese government decided on Wednesday to allocate 19 billion dollars to support households affected by the rising cost of living, a consequence of the conflict in the Middle East.

The Iranian president, Masoud Pezeshkian, announced that the Strait of Hormuz will be open for Japanese carriers, assuring Tokyo officials that ships will be able to pass safely.

The closure of the Strait of Hormuz, which occurred due to the conflict between the US and Iran, led to a significant increase in oil prices, particularly affecting Asia, where over 80% of the oil transported through this route arrives.

The director of the International Energy Agency, Fatih Birol, warned that the blockage will generate a major energy crisis, equivalent to two oil crises and a collapse of the gas market. In this context, Japan's Prime Minister, Sanae Takaichi, requested the IEA to prepare a release from strategic oil reserves to combat price increases.