Japan has lowered price cap on Russian oil and imposed new sanctions, - Reuters
From 12 September, Japan will lower the price cap on Russian oil from $60 to $47.60 per barrel.
This was reported by Reuters, according to Censor.NET.
This move is in line with the decision of the European Union, which in July lowered the oil price cap as part of the 18th package of sanctions against Russia. At the same time, the Japanese Ministry of Industry notes that this will have no actual impact on the country's volumes of oil purchases.
Tokyo, together with the G7 countries, agreed to gradually phase out imports of Russian oil after Russia's invasion of Ukraine. However, Japan continues to purchase Sakhalin Blend oil as part of the "Sakhalin-2" project, which accounts for about 9% of its LNG imports. Transactions within this project are exempt from price restrictions.
According to the Ministry of Finance, from January to July 2025, Japan purchased 95,299 kilolitres (599,413 barrels) of oil from Russia, which is only 0.1% of its total imports.
In addition, the Japanese government has imposed additional sanctions. These include asset freezes and export restrictions on 47 organisations and 9 individuals from Russia, Belarus and other countries considered to be involved in the occupation of Crimea and the destabilisation of eastern and southern Ukraine.
