Abu Dhabi is in talks to store its oil in Japan, the biggest importer of the emirate’s crude.
The deal, which would allow the Abu Dhabi National Oil Company (ADNOC) to establish a crude reserve on Japanese territory, is the latest in a series of steps the emirate and the Asia-Pacific countries that buy most of its oil have been taking to strengthen their political and trade ties, particularly regarding energy.
It could also provide the UAE and Japan with an insurance policy against short-term disruptions to shipping through the Strait of Hormuz.
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