ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japan faces dilemma in Sakhalin as G-7 vows to quit Russian crude

Continued stakes in pivotal oil and gas projects highlight Tokyo's energy woes

A liquefied natural gas plant in Sakhalin. Japan's investments in development projects on the island were aimed at diversifying the nation's energy procurement.     © Reuters

TOKYO -- Japan will in principle ban oil imports from Russia but retain its interests in two Sakhalin oil and gas development projects, a contradictory decision that runs counter to the West's goal of depriving Moscow of funds to finance its war in Ukraine.

"We will take steps to phase out imports in a way that minimizes the adverse impact," Prime Minister Fumio Kishida told reporters Monday, adding that "the unity of the G-7 is most important." But the prime minister did not elaborate on a timeline or specific steps toward weaning Japan off Russian oil.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more