URGENT: Japan to maintain stake in Russia's Sakhalin 1 oil project

Politics Economy

Japan will maintain its stake in the Sakhalin 1 oil and natural gas project in the Russian Far East, sources close to the matter said. The government and some companies will invest in the new operating firm for the project. The move comes amid international sanctions against Russia over its invasion of Ukraine. President Vladimir Putin last month signed a decree to create the new operating firm, with Russia asking foreign stakeholders if they wish to remain part of the project.

Kyodo News

Kyodo News