Japan imposed price caps on Russian oil from Monday, but oil imported through the Sakhalin-2 project will be excluded, the government said in a statement, Reuters reported.
The decision follows an agreement reached on Friday by G7 countries and Australia to cap the price of Russian oil at $60 a barrel, the latest step in imposing sanctions against Moscow over the war in Ukraine.
The exemption for oil from the Sakhalin-2 project in Russia’s Far East, in which Japanese energy operators have a stake after Shell’s exit, was taken “in view of Japan’s energy security”, the government said.
Other measures on Russian oil products, which are due to start on February 5, 2023, will be announced later, the message added.
Source: Hot News
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