Japan is heavily exposed to turmoil in the Middle East despite being far away and removed from the hostilities, and the crisis is coming at a time when Japan is vulnerable and in no position to absorb shocks that emanate from the conflict.According to the Petroleum Association of Japan, about three-quarters of the country’s crude oil imports are shipped via the Strait of Hormuz, a choke point between the Persian Gulf and the Gulf of Oman with Iran on one shore.Iran, which is currently in a military conflict with Israel, has threatened to close the strategic passage.
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