Japan gov't-backed bank to review businesses with Russia over Ukraine

Politics Economy

The head of the Japan Bank for International Cooperation said Thursday that the government-owned lender has no choice but to review businesses with Russian partners after the invasion of Ukraine. The Japanese government holds a stake in Sakhalin Oil and Gas Development Co. or SODECO, which owns a 30 percent stake in the Sakhalin 1 oil and gas project, and extended loans to the project and another Sakhalin 2 gas and oil project, both in the Russian Far East. "There is no way we will continue to run businesses in the same way as before," JBIC Governor Tadashi Maeda said at a press conference. Ma...

Kyodo News

Kyodo News