Japan confirms oil from Sakhalin 2 project excluded from price cap

Politics Economy

The Japanese government said Friday oil from the Sakhalin 2 energy project will be excluded from the price cap policy on Russian oil slated to be imposed in early December by an international coalition led by the United States. The price cap coalition, including the Group of Seven industrialized nations and Australia, will limit the price of crude oil from Russia from Dec. 5 to deplete Moscow's revenue for its war in Ukraine. Japanese trading firms have maintained their stake in the Russian energy project, which accounts for around 9 percent of Japan's liquefied natural gas imports, as it is r...

Kyodo News

Kyodo News