July 26

Events - Economy & Industry

1941day.year

World War II: In response to the Japanese occupation of French Indochina, the United States, Britain and the Netherlands freeze all Japanese assets and cut off oil shipments.

In response to Japan’s occupation of French Indochina, the US, Britain, and the Netherlands froze Japanese assets and embargoed oil shipments on July 26, 1941.
On July 26, 1941, the United States, Great Britain, and the Netherlands imposed economic sanctions on Japan by freezing Japanese assets and halting oil exports. This move was a direct response to Japan’s expansion into French Indochina and aimed to curb further aggression in Asia. The sanctions targeted essential resources, severely straining Japan’s war economy and navy. British and Dutch colonies, dependent on Allied oil, collaborated closely with US policymakers to enforce the embargo. The measures heightened tensions between Japan and the Western powers, setting the stage for further conflict. The sanctions are often cited as a key factor leading to Japan’s decision to attack Pearl Harbor later that year.
1941 French Indochina cut off oil shipments
1963day.year

The Organisation for Economic Co-operation and Development votes to admit Japan.

In 1963, the OECD voted to admit Japan, signifying the country’s integration into a leading international economic organization.
On July 26, 1963, the Organisation for Economic Co-operation and Development (OECD) approved Japan's membership. Joining the OECD signaled Japan’s postwar economic recovery and growing influence in global markets. Membership granted Japan a voice in policy discussions among the world’s most developed economies. It opened doors to expanded trade cooperation, investment, and policy exchange. This milestone strengthened Japan’s ties with Western nations during a period of rapid industrial growth. The decision reflected confidence in Japan’s fiscal stability and market reforms. Japan officially became the seventh member of the OECD later that year.
Organisation for Economic Co-operation and Development Japan