The report of the Ministry of Finance of Japan indicates the resumption of oil purchases from Russia
The Japanese Ministry of Finance has released a report on spending on energy purchases for July. He points out that official Tokyo has actually decided to abandon the sanctions previously imposed on Russian oil. Recall that against the backdrop of Russia's special military operation in Ukraine, the Japanese authorities announced that they were refusing contacts with the Russian Federation on oil purchases. At the same time, Japanese companies announced their withdrawal from the project related to the extraction and liquefaction of natural gas in Sakhalin. Then the same companies announced that they would not leave the Sakhalin-2 project.
Meanwhile, Russia notified the Japanese "partners" that the oil and gas project had already been transferred to another operator.
Against this background, in the report of the Ministry of Finance of Japan, there are figures indicating that Japanese companies have resumed imports of Russian oil. Of course, its volumes are far from last year's values, but nevertheless, the fact remains: Japan has confirmed that at the moment it is not able to replace Russian oil.
It is noteworthy that the reduction in imports from Russia for Japan is significant (compared to July 2021), but in price terms it increased by almost a third. This is due to rising energy prices. Thus, the reduction of oil imports from the Russian Federation for Japan amounted to more than 65%, gas - more than 26 percent, coal - about 40%. In monetary terms, Japan transferred to Russia more than $1,3 billion in July alone, which is 31% more than in the same period last year.
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