Japan will take time to phase out Russian oil imports after agreeing on a ban with other G7 nations to counter Moscow’s invasion of Ukraine, prime minister Fumio Kishida has said.
“For a country heavily dependent on energy imports, it’s a very difficult decision. But G7 coordination is most important at a time like now,” Kishida told reporters according to Reuters, repeating comments he made at the G7 meeting.
As for the timing of the reduction or stoppage of (Russian) oil imports, we will consider it while gauging the actual situation. We will take our time to take steps towards a phase-out.
He did not elaborate.
The G7 nations committed to the move “in a timely and orderly fashion” at an online meeting on Sunday to put further pressure on president Vladimir Putin, although members such as resource-poor Japan depend heavily on Russian fuel.
There have been no ships loading Russian oil for Japan since mid-April, according to Refinitiv data. About 1.9 million barrels were exported from Russia to Japan in April, 33% down from the same month a year ago.
The Ukraine crisis has highlighted Japan’s energy dependence on Russia even as Tokyo has acted swiftly and in tandem with the G7 in instituting sanctions.
The latest ban underlines a turn in Japan’s policy. Japan has said it would be difficult to immediately cut off Russian oil imports, which accounted for about 33 million barrels of Japan’s overall oil imports, or 4%, for 2021.
It has already said it will ban Russian coal imports in stages, leaving just liquefied natural gas (LNG). Japan is in a particularly tough spot since it shut down the bulk of its nuclear reactors following the 2011 Fukushima nuclear disaster.
Russia was Japan’s fifth-biggest supplier of crude oil and LNG last year.
A Fiji court has suspended the execution of a US warrant to seize a $300 million super yacht Washington claims is owned by sanctioned Russian oligarch Suleiman Kerimov, prosecutors have said according to AFP.
The 348-foot Amadea has been targeted because Kerimov is among a group of oligarchs close to Moscow who have been sanctioned by the United States over Russia’s invasion of Ukraine.
The yacht remains in Fiji police custody and is blocked from leaving the Pacific nation’s waters despite the warrant suspension, prosecutors said.
The luxurious Amadea – which has a helipad, pool, jacuzzi and “winter garden” on its sun deck, according to tracking website superyachtfan.com – has been berthed in Lautoka, Fiji in the South Pacific since mid-April.
Last week, Fijian law enforcement, backed by US agents, took control of the super yacht under the warrant, which was lodged with the island state’s High Court.
The US Justice Department requested the vessel, which it has estimated to be valued at $300 million, be seized for violating sanctions and for alleged ties to corruption.
But the company officially registered as the Amadea’s owner, Millemarin Investment, on Friday obtained a temporary stay on the US warrant’s execution from the Court of Appeal, Fiji prosecutors said.
The Court of Appeal “granted an interim stay on the execution of the warrant”, a spokeswoman for Fiji’s office of the director of public prosecutions told AFP on Monday.
The case is scheduled to return to court on Thursday and the US warrant remains officially registered with the Fiji courts, she said.
“The yacht has been further restrained from leaving the Fiji waters until further notice,” she added.
“It is in Fiji police custody at this point.”
