Japan Commits $19.4 Billion to Fighting Its Energy Crisis

Japan will spend an additional $19.4 billion to cushion the inflation blow to Japanese households resulting from the oil and gas export flow disruption in the Middle East.

The package, approved by Prime Minister Sanae Takaichi this week, includes a $16-billion reserve fund specifically created for controlling energy commodity prices through additional subsidies, Bloomberg reported.

The publication added that the fund will first be used to cap the price of gasoline at the pump.

Reuters reported that the money for the additional budget would come…