Japan joined countries in setting a price cap for Russian oil at $60 a barrel on Dec. 5, but made a number of clarifications.
As a member of the G7, Japan has joined the imposition of a price cap on Russian oil. At the same time, the details were clarified in Tokyo.
Therefore, the oil that Japanese companies receive from the Sakhalin-2 project will not be included in the price cap, reports the Japanese Foreign Ministry. Furthermore, the sanctions do not apply to oil loaded before December 5 and which will be unloaded in Japan before January 19.
Tokyo also clarified the concept of Russian oil. If it is simply mixed with other varieties, it remains Russian. But after processing, for example, in South Korea, the oil product will already be South Korean.
