Japan has today approved 650 billion yen (EUR 3.7 billion) in subsidies to electricity and gas, given the increase in energy costs resulting from the crisis in the Middle East.
© Lusa
13/11/2026
by
Lusa
O Japan has today approved 650 billion yen (EUR 3.7 billion) in subsidies to electricity and gas, given the increase in energy costs resulting from the crisis in the Middle East.
“From December to February, we will allocate 520 billion yen [2.94 billion euro] for expenses necessary for the implementation of tax relief measures,” and 130 billion yen (735 million euro) for subsidies to electricity and liquefied oil gas, government deputy spokesman Masanao Ozaki announced at a press conference.
Energy subsidies for the winter months will come from a special fund of 2.5 billion yen (EUR 13,5 billion) created in June under an additional budget of 3.11 billion yen (EUR 16,7 billion) to cope with the rise in energy prices caused by the war launched by the United States and Israel against Iran.
Since the beginning of the war in the Middle East and the consequent disturbance in the Strait of Ormuz, where much of the crude imported from Asia passes, Japan has released millions of barrels of its strategic oil reserves to the market and has provided subsidies to companies in the sector to keep gasoline prices in the order of 170 yen (€0.92) per litre.
Although disbursements have contained the impact of the overall rise in energy prices on households, Japan’s central bank has repeatedly warned of the risks of rising inflation, which in September rose to 2.1% and was above the institution’s 2% target for the first time since December 2025.