Japan Sticks to Russian Oil and Gas, Bucking Western Pullouts
Tokyo cites decades of investments in Sakhalin projects and need to avoid dependence on Middle East
TOKYOThe Japanese government and local companies are sticking with their Russian energy deals, defying a pullout led by Western companies.
Shutting off the flow of billions of dollars to Russia for oil and gas would be one of the biggest steps Tokyo could take to hurt Moscow. But Japanese officials say it could raise prices for consumers and increase dependence on the Middle East.
So far, Tokyo has sanctioned some Russian banks and President Vladimir Putin, while offering $100 million in aid to Ukraine. On Thursday, Prime Minister Fumio Kishida called Russias invasion of Ukraine an outrage that we absolutely cannot accept.
Mr. Kishidas solidarity with Ukraine faltered when he was asked whether Tokyo would withdraw its investments in Russian government-led oil and gas projects, as Shell PLC and others have done.
https://www.wsj.com/articles/japan-sticks-to-russian-oil-and-gas-bucking-western-pullouts-11646392575