As crude oil prices soared due to Russia's invasion of Ukraine, Minister of Economy, Trade and Industry Hagiuda took additional measures such as expanding subsidies to oil wholesalers in order to curb further increases in retail prices of gasoline and other products. He showed his intention to implement it promptly.

At a press conference after the Cabinet meeting on the 25th, Minister Hagiuda said, "Crude oil prices, which were already at a high level, are on an even higher trend due to the situation in Ukraine, and there are concerns about the impact on corporate activities and livelihoods." Said.



In addition, he stated that he would promptly implement additional measures in cooperation with related ministries and agencies, such as expanding subsidies to oil retailers in order to curb further increases in retail prices of gasoline and kerosene.



In addition, as a measure for small and medium-sized enterprises that are affected, we will set up a consultation desk at government-affiliated financial institutions to support cash flow.



IEA = Minister Hagita intends to cooperate closely with the IEA and related countries and actively participate in the release of oil reserves to increase the oil supply capacity in an emergency by the International Energy Agency, depending on the progress of the situation. Shown.



On the other hand, at this point, he acknowledged that the stable supply of energy and the international product supply network = supply chain are not in a situation that will immediately affect the domestic market.