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, 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
-
Ride-Sharing Services Start in Tokyo; Kanagawa, Aichi, Kyoto, Others To Follow Suit
-
Dollar Hits 33-Year High of 151.97 Yen in Tokyo (Update 1)
-
Survey: 80% Worried About Recognizing AI as Patent Inventor; Respondents Fear Increase in Unverified Inventions
JN ACCESS RANKING
- M6.0 Earthquake Hits Japan’s Tohoku Region; Fukushima, Iwate, Miyagi Prefectures Observe 4 on Japanese Scale With No Risk of Tsunami
- Cherry Blossoms Draw Crowd to Tokyo’s Ueno Park; Viewing Season Kicks Off to Slow Start
- 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
- Whaling Mother Ship Built in Japan for 1st Time in 73 Years