Japan to Ban Oil Imports from Russia in Principle: Kishida

Politics Economy

Tokyo, May 9 (Jiji Press)--Japanese Prime Minister Fumio Kishida announced at a Group of Seven summit held in the early hours of Monday Japan time that his country will ban, in principle, imports of Russian oil as part of the Asian nation's additional sanctions over Russia's invasion of Ukraine.

He later told reporters that the import ban will be implemented in stages in view of the measure's possible impacts on the economy.

At the summit, held online, Kishida said that Japan is heavily dependent on other nations for energy resources. While the oil embargo will be tough for the country, it is now most crucial that the G-7 nations work as one, the prime minister also told his G-7 counterparts.

"At a time when there are concerns over the international order being shaken, the unity of the international community is important," Kishida said to reporters at the prime minister's office Monday morning, seeking understanding of Japan's decision to join the initiative to ban Russian oil imports.

"We'll phase out our imports over time in ways to minimize the measure's negative impacts on people's lives and business activities," the prime minister added.

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Jiji Press