Japan proposes G7 joint stockpiling of critical minerals at summit

Japanese Prime Minister Sanae Takaichi proposed a “joint stockpiling cooperation initiative” among G7 nations to strengthen reserves of critical minerals during a working dinner at the G7 summit in Evian, France, her office announced on Tuesday. The discussion focused on major international challenges, including the situations in the Middle East, Ukraine, and the Indo-Pacific, as well as strengthening supply chain resilience. Takaichi welcomed the recently announced memorandum of understanding between the US and Iran, describing it as a significant step toward reducing regional tensions.

Hormuz navigation and stranded vessels

Takaichi praised Washington’s diplomatic efforts and said it is essential to implement the agreement fully, ensure safe passage through the Strait of Hormuz, and reach a final arrangement preventing Iran from acquiring nuclear weapons. She also called for the swift transit of vessels stranded in the Gulf, stating that the safety and well-being of their crews should be treated as a top priority. The Japanese leader stressed the need to diversify supply sources through cooperation with like-minded partners and support resource-rich countries through international financial institutions.