Posted on 04/03/2023 12:55:04 PM PDT by Its All Over Except ...
Tokyo: Japan has ditched the United States to purchase Russian crude oil above the $60-a-barrel cap, saying it needed it to ensure access to energy from Moscow.
The oil purchases by Japan represent a break in the US-led efforts to impose a global $60 per barrel cap on purchases of Russian oil. However, a report by The Wall Street Journal said Tokyo, which is Washington’s closest allies in Asia, got the US agree to the exception.
Most European nations stopped purchasing Russian oil in response to the invasion of Ukraine in February last year.
The G7 nations which include Japan and European Union and Australia, last year agreed to a $60 a barrel price cap on Russian seaborne crude oil to reduce Russia’s income from selling oil while preventing a surge in global prices.
The cap on price allowed non-EU nations to continue importing Russian crude oil but restricted shipping, insurance and re-insurance companies from handling cargoes of Russian crude around the globe, unless it is sold for below $60 a barrel.
On 30 September last year, the EU nations granted an exception to the $60 a barrel cap for oil purchase by Japan.
In the first two months of this year, Japan purchased nearly 748,000 barrels of Russian oil for 6.9 billion yen, that translates to $52 million, or slightly lower than $70 a barrel.
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(Excerpt) Read more at -firstpost-com.cdn.ampproject.org ...
1/2 Speaking of Japan:
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“According to Min News, fifty-six countries, including Israel and Japan, want to de-dollarize. ...”
2/2 First Post
Russia Ukraine War: Japan Ditches The West for Russian Oil
4/3/23
“Japan has decided to buy Russian oil. Not just that, Tokyo is buying it above the Western price cap. How will this impact the West’s plans to sanction Russia? Palki Sharma tells you more. ...”
Is that like...Brandon...$%^&*()%^&*
Japan is a strong ally of the USA, and I don’t think they would do this without our permission.
good.
Biden has little or no credibility in the world today. American clout is waning as we speak.
But now our strong ally Germany can say they will do the same, or are there “teacher’s pets” on this?
And conservative governments in Italy, Hungary, Finland and others can say they also want to buy Russian oil.
This rogue government is killing us.
A Better America would have begun selling some of our oil to Japan, vs pretending we don’t have any to pump and refine.
They are probably sick of paying India to broker he Russian oil for them. India has been buying Russian oil at a 30% discount to the Brent Sea Crude spot price. India has been buying significantly more than they consume in their domestic market. They are either turning it into diesel and selling it or just wholesaling to others.
This has been an incredibly profitable trade fro India. It probably made some Indian oil traders very rich. Things like that never last. Now, that Japan is once again buying Russian oil means that the embargo is quietly coming to an end. It also may be a signal that the war in Ukraine might be coming to an end.
Makes sense.. America under Biden is F’n everything here up along with everywhere else.
If they did it with our permission, that means our is imposed “price cap” failed.
Comical
LOL! I don’t think FJB has impressed the Japanese very much.
Mexico Brazil India are all moving away from the West and their funny money Eurodollar and bankrupt financial system. What are we gonna do invade them all?
Cannot blame them. Cost is cost. Transportation (transporting crude oil) is a cost. Russia is much closer to Japan than any other major oil producer, and the Saudis just announced a cut back in THEIR production, which will likely raise the price of the best crude the Saudis can offer. With all of that to consider together with an American administration trying to kowto to China and not giving a tinkers dam about U.S. crude oil production, I can understand Japan buying crude from Russia at this time.
This cooks our sanctions plan— When war comes—Japan will be neutral. More stacking the deck against us.
A couple of days ago I heard on the news that Biden had given Japan permission to do this.
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