Japan Financial Services Agency published a summary of an April 15 hanging press conference in which Minister of Finance and Minister for Special Missions of the Cabinet Office Katayama recapped the G7 finance ministers and central bank governors meeting and related bilaterals. He highlighted heightened volatility in crude oil and broader financial markets linked to the Middle East situation and warned that swings in crude oil futures could spill over into foreign exchange markets and affect households and the economy. The briefing set out Japan’s “Asia Energy and Resource Supply Resilience Partnership” (Power Asia), described as providing around USD 10 billion in emergency financing support to Asian countries for procuring oil and other materials and strengthening supply chains, including through Japan Bank for International Cooperation loans, Japan International Cooperation Agency yen loans, and Nippon Export and Investment Insurance loan guarantees, alongside financial and technical support to strengthen energy supply capacity as a structural response. On critical minerals, Katayama argued that G7 countries should move quickly to address excessive dependence on China and consider policy measures such as tax and financial incentives and the use of minimum prices or price floors, while being prepared to bear higher costs for alternative supplies, and he pointed to cooperation among multilateral initiatives including the World Bank’s RISE as well as other multilateral development banks. He also reported bilateral discussions with US Treasury Secretary Bessent and counterparts from Thailand and Qatar, touching on market conditions, critical minerals supply chains, and the importance of free passage through the Strait of Hormuz, and noted that private credit was raised by some participants but was not treated as a shared priority issue. Looking ahead, Katayama flagged the next G7 meeting in Paris in mid-to-late May as an important checkpoint for reassessing developments, and said feedback from other countries on Power Asia could become clearer within the next two to three days.
Japan Financial Services Agency 2026-04-27
Japan Financial Services Agency publishes Minister Katayama G7 briefing highlighting USD 10bn Power Asia package and critical minerals supply chain focus
The Japan Financial Services Agency summarized Minister Katayama’s April 15 press conference on the G7 finance ministers and central bank governors meeting, noting concerns over crude oil and financial market volatility linked to the Middle East and possible spillovers into foreign exchange markets and the real economy. Katayama detailed Japan’s “Asia Energy and Resource Supply Resilience Partnership” (Power Asia), offering about USD 10 billion in emergency financing to strengthen Asian energy and resource supply chains, and urged G7 measures to reduce critical mineral dependence on China, including tax and financial incentives and price floors. He also reported bilaterals with the United States, Thailand and Qatar on market conditions, critical minerals and the Strait of Hormuz, and said private credit was discussed but not treated as a shared priority.