TOKYO, July 22. /TASS/. Japan imported about 1.53 mln barrels of Russian oil in May and June at an average price of $103 per barrel, according to TASS calculations based on statistical data published by Japan's Ministry of Finance.
According to statistics for the first half of this year, imports of Russian oil totaled 243,000 kiloliters, equivalent to 1.528 mln barrels. The value of these imports amounted to 25.7 bln yen ($157.6 mln). Thus, each barrel of Russian oil cost Japan approximately $103.
Japan purchased several cargoes of Russian oil in May and June. Major Japanese oil companies Taiyo Oil, Idemitsu Kosan, and ENEOS told a TASS correspondent that the decision to purchase Russian oil was made to diversify supply sources. The shipments consisted of Sakhalin oil produced under the Sakhalin-2 LNG project, whose oil supplies are linked to LNG contracts and are exempt from sanctions.
Oil exempt from sanctions
In recent years, Japan has relied on the Middle East for more than 90% of its oil imports, with most of those shipments passing through the Strait of Hormuz. Tokyo has said it is seeking alternative sources of supply but has not publicly identified Russia as a potential supplier. At the same time, Shunichi Kito, president of the Petroleum Association of Japan, has named Russia among the possible alternatives. He also heads the Japanese company Idemitsu Kosan.
