Economy / Industry

Japan won't quit Russian energy project - minister

Posted On: Oct 4, 2022   |   Posted By: RT

Japan won't quit Russian energy project - minister

Tokyo says Sakhalin-1 is too valuable to abandon
Japan will not be leaving the Sakhalin-1 oil and gas project in Russia's Far East because of its significance to the country's energy supply, the Nikkei newspaper reported on Monday citing Economy, Trade and Industry Minister Koichi Hagiuda.
“ For Japan, which depends on the Middle East for about 90% of its crude oil imports, is a valuable source of purchases outside the Middle East, ” he said, commenting on a decree Russian President Vladimir Putin signed in early August regarding foreign shareholders in strategically important Russian companies.
According to the document, transactions with shares in such companies for holders from “ unfriendly states ” (those that placed sanctions on Russia in connection with Ukraine, including Japan) are prohibited until the end of this year.
Hagiuda said that Putin's decree means Tokyo “ should stop trading interests in Sakhalin-1 with third parties or third countries, ” while otherwise “ we will maintain our...

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