TOKYO, June 17. /TASS/. Japan purchased approximately 364,000 barrels of oil from Russia in May this year, according to TASS calculations based on statistical data published by Japan's Finance Ministry.
According to the data, Japan imported 58,000 kiloliters of Russian oil last month, equivalent to approximately 364,800 barrels. The purchases concerned oil linked to gas supply contracts under the Sakhalin-2 project, which is exempt from anti-Russian sanctions. The oil is also exempt from the price cap introduced by the G7 countries. According to TASS calculations, the price of Russian oil purchased by Japan in May amounted to approximately $103 per barrel.
Following developments surrounding Ukraine in 2022, Tokyo halted imports of Russian oil. However, at the request of the Japanese authorities, Japanese companies occasionally purchase small volumes of oil from the Sakhalin-2 project that are tied to LNG deliveries.
This year, Japanese companies have already purchased such oil several times amid supply disruptions from the Middle East caused by the blockade of the Strait of Hormuz. In recent years, Japan has depended on Middle Eastern supplies for more than 90% of its oil imports. Tokyo has stated that it is seeking alternative sources of supply, although Russia has not been mentioned among the potential suppliers.
