Japan Sticks to Russian Oil and Gas, Bucking Western Pullouts

[former9thward]

Tokyo cites decades of investments in Sakhalin projects and need to avoid dependence on Middle East

TOKYO—The 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 Russia’s invasion of Ukraine an outrage that “we absolutely cannot accept.”

Mr. Kishida’s 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

[Tetrachloride]

1. There are other considerations.

On the whole, good for Japan. We need japan to be strong in the face of China and North Korea.

I believe the sanctions are going to be effective as they can be.

[uponit7771]

2. Unnn, better to keep some bullets in the economic gun against RU.