Japan weighs state reinsurance for tankers to keep Gulf oil flowing

InsuranceBackstop for domestic insurers aims to mitigate risks from Iran warShips remained in the Strait of Hormuz in August. (Getty Images via Kyodo)MASATOSHI IDA and MIKI NOSEAugust 15, 2026 02:01 JSTTOKYO -- Japan is considering providing last-resort reinsurance coverage for oil tankers traveling in dangerous areas such as the Middle East, aiming to ensure crude supplies can continue to move amid the Iran war.