Iran could let Japan’s vessels through Hormuz: report

According to Kyodo news, Iran is ready to allow Japanese-linked ships to pass through the Strait of Hormuz, a vital artery for global oil supplies.

Iranian Foreign Minister Abbas Araqchi told the Japanese news agency on Friday that Tehran has started talks with Tokyo about the possibility of opening the strait.

Japan depends on the Middle East for about 95 percent of its oil supplies and receives about 90 percent of its oil shipments through the strait, which Tehran largely closed during the U.S.-Israeli war against Iran.

The war that has been going on for three weeks and the subsequent increase in oil prices have led Japan and other countries to extract oil from their reserves.