According to CoinMeta, and as reported by the Japanese Yomiuri Shimbun, a panel of experts from Japan's Ministry of Economy, Trade and Industry approved a proposal on Monday to establish a subsidy program aimed at supporting companies in diversifying their sources of crude oil and naphtha supply. This proposal is part of Japan's efforts to reduce its dependence on oil products imported through the Strait of Hormuz and is expected to be incorporated into the government's upcoming energy diversification policy plan. The program will be used to compensate companies for the additional costs incurred in avoiding the Strait of Hormuz. The Japanese government will levy a fee on all companies that import crude oil and naphtha, and the funds collected will be used to fund the subsidy program. Companies that prefer to purchase through the Strait of Hormuz will bear a higher cost burden. At the same time, the expert panel confirmed that Japan's national oil reserve program, which includes naphtha, will be restored to a level equivalent to 90 days of consumption by the end of March 2028.