Duma chairman: Japan’s, other foreign stakes in Sakhalin-2 should be sold to Russian firm
15:08 JST, May 26, 2022
Japanese companies, and those from other countries imposing sanctions on Russia, should have their stakes in the Sakhalin-2 energy development project sold to friendly companies such as state-run Gazprom, Russia’s lower house chairman said Wednesday.
The oil and natural gas mining project off the Russian Far East island of Sakhalin involves the participation of Japanese trading companies and other foreign entities.
Russia’s invasion of Ukraine has prompted the Japanese government to announce additional sanctions on Moscow, including a ban on imports of Russian oil in principle. However, Tokyo has indicated that it will not withdraw from the Sakhalin-2 project, saying that if Russia or a third country acquires its stakes, it would benefit Moscow.
Vyacheslav Volodin, the chairman of the Duma, named specific countries, including Japan and Britain, whose companies are participating in Sakhalin-2, saying they are receiving big dividends while reducing their business in Russia.
Japan’s Mitsui & Co. holds a 12.5% stake in the project while fellow trading company Mitsubishi Corp. holds 10%.
Volodin also suggested that the stakes should be sold to Gazprom or companies in countries that are not designated as “unfriendly” by Moscow.
"Business" POPULAR ARTICLE
-
Japan Household Spending Down 0.5% in Feb.
-
Japan, U.S., Philippines to Strengthen Nickel Supply Chains; Reduce Reliance on China for Critical Minerals
-
Shinkansen to Have Private Rooms by FY 2026, JR Tokai Announces
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
JN ACCESS RANKING
- Japan Household Spending Down 0.5% in Feb.
- China Mutes Memorialization of Reformer Hu Yaobang; Memories Could Spark Critique of Xi Administration
- Shinkansen Services Suspended After Man ‘Searches for Phone’ on Tracks; Disruption Affects About 14,000 Passengers
- U.S. 7th Fleet officer Arrested on Suspicion of Stealing Sushi, Sashimi, Chicken at Kanagawa Shopping Mall; Suspect Caught Mid-Meal
- UNRWA Director Describes Catastrophic Destruction in Gaza; Says Relief Trucks Robbed, ‘People’s Hearts Destroyed’