Japan’s imports of oil from the Middle East dropped 67% amid a Strait of Hormuz blockade, marking a sharper decline than the previously cited 66% figure and pointing to severe disruption in a critical global supply route. The new report adds that Japan has increased its reliance on Russian oil as it responds to reduced Middle Eastern supply, highlighting how supply shocks can reroute trade flows while exposing vulnerabilities in energy security and amplifying market volatility.