Japan will embargo Russian crude oil without abandoning energy projects with Moscow

Tokyo, May 9 (Latest) .- Japanese Prime Minister Fumio Kishida announced on Monday that his country will embargo imports of Russian crude while maintaining its interests in energy projects with Moscow to minimize the impact on its energy supply.

“For a country like Japan, which relies heavily on energy imports, it is a very difficult decision, but the coordination of the G7 is more important at a time like this,” Kishida told reporters from the Kantei. , the office and official residence of the Japanese Prime Minister.

The Japanese president’s announcement comes hours after participating in a telematic meeting with the leaders of the so-called Group of Seven (G7, made up of the United States, Germany, Canada, France, Italy, Japan and the United Kingdom), in which they reiterated its commitment to reduce energy dependence on Russia.

The powers, which were unable to reach an agreement to ban imports of Russian oil, pledged to undertake a transition “in a timely” and “orderly” manner with time for countries to find alternative supply routes.

Related  If oil prices are at a maximum, why doesn't OPEC lower them?

“Based on the declaration of the G7 leaders, we have decided to take measures to embargo Russian oil in principle,” added the president from his Twitter social network profile.

Kishida pointed out that he will continue to work “closely” with the G7 and the countries involved, including Ukraine, whose invasion by Russia has led to this and other sanctions, “in order to protect the international order.”

The prime minister did not offer a concrete roadmap on the embargo on Russian crude, which in 2021 represented around 3.6% of all these imports for Japan, which obtains most of the oil it consumes from the Middle East.

Despite the embargo, which is expected to be gradual, and with the aim of ensuring a stable supply at reasonable prices for the country in the long term and minimizing the impact on the population and commercial activity, Kishida said that Japan will maintain its participation in energy projects. he currently has with Russia, according to details published by the Japanese public broadcaster NHK.

Related  A company pays US$250 an hour to sleep: these are the requirements

(c) Latest News

News and Images Source