The top news stories from Asia and the Pacific
Provided by AGP
Japan to Import Russian Oil Amid Global Energy Supply Pressure
(MENAFN) Japan is set to import Russian crude oil for the first time since the escalation of the Middle East conflict in February, amid growing pressure on global energy supplies that is particularly affecting countries reliant on imports, according to reports.
A tanker carrying crude from Russia’s Far East is currently en route to Japan, an official from Japan’s Ministry of Economy, Trade and Industry told local media, as cited by reports.
The shipment comes from the Sakhalin-2 project, a major energy development involving Russia’s state-controlled Gazprom, along with participation from Japanese firms Mitsubishi Corporation and Mitsui & Co.
The cargo has been purchased by the wholesaler Taiyo Oil Co., according to reports.
Officials note that the shipment is not subject to existing US and European sanctions imposed after the start of the Russia-Ukraine war in 2022.
The vessel reportedly departed from Sakhalin in late April and is expected to arrive in Ehime Prefecture in western Japan.
In parallel developments affecting global energy flows, Iran has closed the Strait of Hormuz following the outbreak of conflict involving the United States and Israel on February 28, as stated by reports. The United States later imposed its own blockade on Iranian ports, which remains in effect.
The Strait of Hormuz remains a critical global energy route, with around one-fifth of the world’s oil and liquefied natural gas passing through it.
Although a ceasefire is currently in place, maritime traffic in the region continues to face significant restrictions, according to reports.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
