Japan: Tokyo to boost energy ties with Moscow despite sanctions against Russia

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Amid growing uncertainties on the global oil market, Japan is looking to boost its energy cooperation with Russia, and international sanctions on Moscow don’t prohibit cooperation. That’s according to Japan’s Economy, Trade and Industry Minister Hiroshige Seko in a written interview with S&P Global Platts published on Friday. Japan, which relies almost exclusively on imports of crude oil and liquefied natural gas (LNG) to meet its demand for those products, sees the benefit of shorter travel times and safer routes for deliveries from Russia’s Far East, amid increased uncertainties in the global oil market with the US sanctions on Iran, according to Seko. Seko told Platts: “Imports of Russian crude oil and LNG do not go through any chokepoints such as the Strait of Hormuz. Therefore they are important for the diversification of Japan’s energy import sources, and I hope that Russia will play an even larger role. I would like to continue working to expand our cooperation.”…

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This post originally appeared on SOTT.net

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