Free Trial

Japan Commit to G7 Price Cap with Sakhalin-2 Exemption

OIL

Japan, as part of the G7, implemented a price cap on Russian crude oil from Monday, but crude oil imported from the Sakhalin-2 plant will be excluded, the government said.

  • The exclusion of crude oil from the Russian Sakhalin-2 project, which Japanese energy operators hold stakes in, was decided "in light of Japan's energy security", the government said in the statement.
  • G7 countries agreed on a $60/bl price cap on Russian seaborne crude exports on 3 Dec, following the EU’s suggestion from a day earlier.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.