For a country that is heavily dependent on energy imports, this is a very difficult decision, said Fumio Kisida.
Japan will need time to gradually stop Russian oil imports after agreeing a ban with other G7 countries to counter Moscow's invasion of Ukraine. The statement was made by Prime Minister Fumio Kisida on Monday, according to Reuters. , as resource-poor Japan is heavily dependent on Russian fuel.
“For a country that is heavily dependent on energy imports, this is a very difficult decision. But coordinating the G7 is more important at the moment than it is now,” Kishida told reporters, echoing the G7 summit.
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We will take the time to take steps towards phasing out, “he said.
According to Refinitiv (financial market data and infrastructure provider, ed.), There has not been a single ship carrying Russian oil to Japan since mid-April. About 1.9 million barrels were exported from Russia to Japan in April, 33% less than in the same month last year.
The war in Ukraine underscored Japan's energy dependence on Russia, even when Tokyo was in operation. quickly and in tandem with the G7 in imposing sanctions.
The latest ban underscores a turn in Japan's policy. Japan has said it will be difficult to immediately stop imports of Russian oil, which accounted for about 33 million barrels of total oil imports.
Japan's previous ban on Russian coal imports
Authorities have said they are gradually banning Russian coal imports, leaving only liquefied natural gas. Japan is in a particularly difficult situation as it shut down most of its nuclear reactors after the Fukushima nuclear disaster in 2011.
Russia was Japan's fifth largest supplier of crude oil and LNG last year.
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The Japanese government and companies have stakes in oil and LNG projects in Russia, including two on Sakhalin Island, of which partners Exxon Mobil Corp. (XOM.N) and Shell PLC (SHEL.L) have announced their exit.
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However, Japan's largest oil refiner, Eneos Holdings Inc (5020.T), has already stopped buying Russian oil, saying it will receive supplies from the Middle East. East.
On Friday, the trading company Marubeni Corp (8002.T) announced that it wants to withdraw from the Sakhalin-1 oil project, but retains its share in accordance with government policy.
< At the same time, Kisida said on Monday that the government's policy of preserving business interests in various Russian energy assets has not changed.
It will be recalled that Bulgaria will ask the European Union to lift the ban on Russian oil.
It is also known that the EU is proposing to revise the embargo on Russian oil and allow Hungary and Slovakia to buy it by the end of 2024, and the Czech Republic – by June 2024,
