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Japan in Talks With US, Europe on Banning Russian Oil – Kyodo

Japan, which counts Russia as its fifth-biggest supplier of crude, is in discussion with the US and European countries about possibly banning Russian oil imports, Kyodo says

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An employee shows a handful of crude oil from the Yarakta Oil Field in Russia, March 11, 2019. Photo: Vasily Fedosenko, Reuters.

 

Japan, which counts Russia as its fifth-biggest supplier of crude oil, is in discussion with the United States and European countries about possibly banning Russian oil imports, Kyodo News reported on Monday.

The report comes after US Secretary of State Antony Blinken said on Sunday the United States and European allies were exploring the possibility.

Asked about a potential embargo on Russian oil imports, Japanese Chief Cabinet Secretary Hirokazu Matsuno declined to comment on the country’s communication with the United States.

Russia accounted for 3.63% of Japan’s imports of crude oil last year.

While sanctions imposed on Russia are not expected to directly affect Japan’s ability to ensure a stable supply of liquefied natural gas (LNG), they could indirectly affect energy-related projects, Industry Minister Koichi Hagiuda said.

“We will closely monitor (developments),” he said in parliament, adding that Japan would act appropriately in step with the Group of Seven.

The Japanese government and companies own stakes in oil and liquefied natural gas (LNG) projects in Russia, including two on Sakhalin Island, but partners Exxon Mobil Corp and Shell have announced they will exit.

 

• Reuters with additional editing by Jim Pollard

 

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Jim Pollard

Jim Pollard is an Australian journalist based in Thailand since 1999. He worked for News Ltd papers in Sydney, Perth, London and Melbourne before travelling through SE Asia in the late 90s. He was a senior editor at The Nation for 17+ years and has a family in Bangkok.

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