The country has joined the restrictions imposed by the European Union and other G7 members.
Japan has set a price ceiling for Russian oil products following similar measures by other G7 countries, the European Union and Australia. This was reported on February 6 by NHK.
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It is noted that high-process products, especially diesel fuel, are limited to a price of $100 per barrel, and cheaper products – $45 per barrel.
The restrictions announced by Tokyo will take effect on Monday, February 6, and are in line with similar measures introduced by the European Union on February 5.
Japan’s Ministry of Commerce emphasized that the effect of the price ceiling on supply in the country is likely to be limited, as Tokyo has not imported Russian oil products since the start of Russia’s invasion of Ukraine.
It will be recalled that on December 5, 2022, a ban on the import of oil from the Russian Federation by sea was implemented. In addition, more than 30 countries around the world have set a price ceiling for oil from Russia at $60 per barrel.
And on February 5 of this year, the EU set two price limits for oil products from the Russian Federation: $100 per barrel for highly processed products, particularly diesel fuel, kerosene and gasoline, and $45 per barrels for cheaper oil products, such as fuel oil.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.