Tokyo (Agencies) : Japan has resumed imports of Russian crude oil for the first time since February 2023, purchasing a shipment valued at 3.75 billion yen (approximately $25.3 million), according to the country’s Ministry of Finance. The cargo, consisting of roughly 440,000 barrels of Sakhalin Blend crude, was acquired at an average price of $57.5 per barrel and delivered to Taiyo Oil’s refinery in Kikuma during June.
The purchase was made under a special waiver granted by the United States, allowing Japan to import crude from the Sakhalin-2 project until June 28, 2025. The exemption was designed to ensure stable liquefied natural gas (LNG) supplies, as oil is a byproduct of gas extraction in the Sakhalin region.
The shipment arrived aboard the Aframax tanker Voyager, a vessel sanctioned by both the U.S. and the European Union. Despite its blacklisted status, the delivery was permitted under the waiver terms, and no penalties were imposed on the Japanese refiner.
Officials from Japan’s Ministry of Economy, Trade and Industry (METI) confirmed that the decision to import was made to maintain operational continuity at LNG facilities. The move reflects Japan’s balancing act between geopolitical commitments and domestic energy needs, especially as the country remains a key stakeholder in Sakhalin-2 through Mitsui & Co. and Mitsubishi Corporation.
While the volume of Russian oil accounted for less than 1% of Japan’s total oil imports in June, the transaction has drawn international attention amid ongoing sanctions against Moscow. Analysts suggest the purchase signals a pragmatic shift in Japan’s energy policy, prioritizing supply stability over political optics.
The resumption of imports could have broader implications for global energy dynamics, particularly as other Asian nations reassess their positions on Russian energy amid fluctuating market conditions and strategic realignments.