Japan aligns with G7: Will ban Russian oil imports ‘in principle’

Japan will ban imports of Russian crude oil “in principle” as part of a G7 campaign in retaliation for Russia’s invasion of Ukraine, Prime Minister Fumio Kishida said after yesterday’s online conference with the group’s leaders. states.

The G7 member states have pledged to phase out Russian oil imports, signaling the West’s latest attempt to pressure Russian President Vladimir Putin to invade Ukraine, but with deadly consequences.

“For a country that is heavily dependent on energy imports, it is a very difficult decision. But, the coordination of the G7 is more important at a time like the one we are going through,” Kishida said in a statement. by the Japanese government.

Kishinda directly criticized Russia for its invasion of Ukraine. Japan acted swiftly, following the G7 countries in imposing sanctions on Russia, including the freezing of assets of Russian oligarchs.

So far, however, Tokyo has been less demanding of a total ban on Russian oil and gas, given that Japan, which is poor in natural resources, is dependent on energy imports to maintain a stable energy balance. This need is greater, after the deactivation of most of its nuclear reactors, which followed the nuclear crisis in 211 at Fukushima.

Russia is Japan’s fifth largest supplier of crude oil and liquefied natural gas (LNG).

“We are committed to phasing out our dependence on Russian energy, including the gradual reduction or banning of Russian oil imports. We will ensure that we do so in a coordinated manner and at the appropriate time,” the leaders said in a joint statement. of the G7.

The idea of ​​phasing out Russian oil will give Japan a chance to gradually reduce imports as it seeks alternative energy sources.

The Japanese government and companies have stakes in oil and liquefied natural gas (LNG) infrastructure in Russia, including two units on Sakhalin Island, of which Japanese partners Exxon Mobil Corp and Shell PLC have announced they will leave.

Source: AMPE