THE Japan to ban imports of Russian crude oil “on principle” as part of a G7 campaign, in retaliation for Russian invasion of Ukraine, said the Prime Minister, Fumio Kishindaafter yesterday ‘s online conference with the leaders of the said group of states.
The G7 member states have pledged to phase out imports of Russian oil, marking the West’s latest attempt to pressure Vladimir Putin on invasion of Ukraine but also the deadly consequences it caused.
“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 in a period like the one we are going through,” Kishida said, according to a statement released by the Japanese government.
Kishinda directly expressed Ms.to Russia for its invasion of Ukraine. Japan acted quickly, following the G7 countries in imposing sanctions on Russia, including the freezing of assets of Russian oligarchs.
However, Tokyo has so far been, according to the APE-MPE, less demanding of a complete ban on Russian oil and gas, given that Japan, which is poor in natural energy reimgs, depends on energy imports in order to maintain its energy balance. This need is greater, after the deactivation of most of its nuclear reactors, which followed the nuclear crisis in 2011 in Fukushima.
Russia is Japan’s fifth largest supplier of crude oil and liquefied natural gas (LNG).
“We are committed to phase out our dependence on Russian energy, including the gradual reduction or ban on Russian oil imports. “We will ensure that we do this, in a coordinated manner and at the right time,” the G7 leaders said in a joint statement.
The idea of phasing out Russian oil will give Japan a chance to gradually reduce imports as it seeks alternative energy imgs. 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: News Beast
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