Posted on 11/01/2022 6:56:10 AM PDT by FarCenter
TOKYO -- The Japanese government has decided to remain involved in the formerly Exxon-led Sakhalin-1 oil and gas project in Russia, Nikkei has learned, as it seeks a stable supply of energy despite international sanctions on Moscow over its invasion of Ukraine.
ExxonMobil, which held a 30% stake in Sakhalin-1, announced in March that it would withdraw from the project.
Russia has set up a new company to take over the project under a presidential decree that has in effect forced investors to choose sides.
Japan's Ministry of Economy, Trade and Industry is a stakeholder in Tokyo-based Sakhalin Oil and Gas Development -- which owns 30% of Sakhalin-1's current operator -- along with other investors including Itochu, Japan Petroleum Exploration and Marubeni.
The Japanese consortium will make a final decision on whether to stay invested in the project after discussions with other stakeholders.
The Group of Seven nations decided in May to ban imports of Russian crude oil. Although the G-7 did not decide on a time frame, saying only that the ban will be enforced in a "timely and orderly fashion," Japan's continued participation in Sakhalin-1 would go against the consensus among fellow G-7 members.
As Japan relies on the Middle East for 95% of its crude imports, it sees ownership in Russian projects as essential to ensuring a stable supply of energy.
(Excerpt) Read more at asia.nikkei.com ...
“The World” does not support Biden’s war against Russia.
Logic and commonsense by the world at large is going to eventually overwhelm and isolate the US and it’s efforts to blame Russia for all it’s problems.
Blowing up pipelines, dirty bombs, shooting at humanitarian grain corridors is not winning anyone over.
tick tock
One by one...countries are defying these USA induced sanctions.
Good for Japan. Their government is actually working in the interest of the Japanese people. How quaint.
Might be a good time for Japan to bring up that Kuriles issue again.
Did Olaf Sholz and the other EU nazis sign off on this?
The Japanese know this is a Klaus Schwab New World Order war.And the Japanese will just shrug and conduct business as usual. They need the energy.The problem would come if China attacks a weakened Russia. Then you would see the Japanese fangs.
The bubble in which arrogant, self-absorbed DC neocons and progressives live is deflating around them.
Their first reaction will be denial, meaning they will double-down on the MICs corrupt, globalist policies - both at home and abroad.
Americans will pay the price for this more than foreigners
While the west commits suicide the other side of the world is benefiting big time.
I’m still guessing the US is going to pivot because it has no choice. It can’t win and realizing this, will discover “new found information” (war crimes for example) and withdraw support for Ukraine.
The claim will be made that the US tried to get the parties to adhere to Minsk II but they wouldn’t listen.
So the US will provoke another war, lose decisively, throw all their “allies” under the bus, lie about the whole thing, then declare victory.
Maybe Biden will also blow up the LNG receiving terminal in Japan.
NEOCON’s next target for regime change after Russia, Iran, Saudi Arabia, China, etc., etc., etc. /s
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.