TOKYO (Reuters) – Japan would deal with “difficulty” to instantly follow a relocate to cut off Russian oil imports over the intrusion of Ukraine, its minister of economy, trade, and market Koichi Hagiuda stated on Thursday.
Hagiuda made the remark throughout a check out to Washington, after the European Union’s executive on Wednesday proposed the hardest bundle of sanctions yet versus Moscow, consisting of the embargo on .
U.S. President Joe Biden stated he would go over additional sanctions versus Russia with other leaders from the Group of Seven (G7) sophisticated economies today, which might push Japan which watches out for the effect of the oil embargo.
“Given Japan has its limit on resources, we would face some difficulty to keep in step immediately” with other nations, Hagiuda informed press reporters.
During a conference with U.S. Secretary of Commerce Gina Raimondo, the 2 settled on standard concepts on semiconductor cooperation, intending to diversify chip-making capability, increase openness, an emergency situation action to scarcities and R&D.
“As the world is destabilising after the war in Ukraine, coordination with like-minded countries is becoming more and more important. (Today’s) talks served as a major step towards advancing the Japan-U.S. relationship.”
In a different conference with U.S Energy Secretary Jennifer Granholm, Hagiuda asked the United States to increase melted (LNG) output to assist Japan minimize its energy dependence on Russia.
Russia oil imports represented 4% of Japan’s total oil imports for the last to March. Natural gas from Moscow comprised 9% of Tokyo’s imports and Russia coal imports represented 11%.
Japan would supply public funding to assist Japanese companies carry out LNG tasks in the United States to lay the ground for financial investment, Hagiuda stated.
The 2 sides accepted form efforts targeted at going over regularly tidy energy innovation and energy security offered the Ukraine crisis, they stated in a joint declaration.