America excludes Japanese oil from Russia’s price ceiling
According to IRNA’s report on Wednesday, quoting from Kyudo news agency, the price ceiling, which other members of the Group of Seven and Australia have also agreed to, will be applied to crude oil from December 5.
The group of seven includes England, Canada, France, Germany, Italy, Japan and the United States in addition to providing Europe.
Japanese commercial companies have a stake in the Sakhalin 2 project, which the Tokyo government sees as an important source of energy supply for the country.
Meanwhile, a senior US Treasury Department official said negotiations on setting a price ceiling between EU members are ongoing.
According to the instructions of the US Treasury Department, the US parties will only be allowed to provide a range of services including financial, insurance and transportation services for the sea transportation of Russian oil if the oil is purchased at or below the ceiling price and be traded
Exemption from the price ceiling includes sea transportation of crude oil from Sakhalin 2, provided that the oil product is only intended for import to Japan.
According to published data, Russia accounted for about 3.6 percent of Japan’s total oil imports last year.
In the meantime, John Kirby, the strategic communications coordinator of the American National Security Council, supported setting a price ceiling for Russian oil in the world markets.
The American newspaper Wall Street Journal has announced that the seven industrialized countries of the world, known as the Group of Seven, and the European Union are considering setting a ceiling of $60 per barrel for Russian oil exports.
With limited alternative sources, European traders are rushing to fill the region’s storage tankers with Russian diesel ahead of EU bans against the country in February.
The European Union, which is heavily dependent on the import of diesel (gasoil) from Russia, will ban the import of all Russian oil products until February 5 (Bahman 16). This action by Brussels will be implemented following the implementation of the ban on the import of Russian crude oil from December.