Japan is reportedly planning to offer financial assistance of up to $10 billion to Southeast Asian nations to help them cope with soaring crude oil prices caused by the Middle East conflict. Japan imports petroleum-related products from Southeast Asia, and insufficient oil reserves in some countries could disrupt supplies and negatively impact Japan's healthcare system. Japanese Prime Minister Sanae Takaichi is expected to announce the aid package, which may include loans, during a video conference with regional leaders on Wednesday afternoon. Earlier on Wednesday, Japan's Chief Cabinet Secretary Minoru Kihara stated that Japan is "considering mutually beneficial cooperation with Asian countries from the perspective of ensuring the supply of petroleum products and strengthening supply chains." If procurement is disrupted, it could adversely affect Japan's healthcare system. Japan plans to provide financial support through the government-backed Japan Bank for International Cooperation. Southeast Asian countries, including Vietnam, have previously sought assistance from Japan and South Korea regarding crude oil supplies. Since the outbreak of the Iran conflict approximately six weeks ago, Japan has utilized its strategic petroleum reserves in two batches. However, Japan has clarified that these reserves are solely for domestic refineries and not for foreign supply. Japan itself is not currently facing an oil shortage. The Ministry of Economy, Trade and Industry stated that Japan can ensure sufficient crude oil supply this year by identifying alternative shipping routes bypassing the Strait of Hormuz and utilizing its ample oil reserves.