Japan caps Russian oil at half the current price: Kishida


Prime Minister Fumio Kishida said Japan will impose a cap by cutting Russia’s oil purchase price in half, in parallel with a seven-country group campaign against Russia’s invasion of Ukraine.

Fumio Kishida said the Government of Japan will establish a mechanism to ensure that Russian oil is “not bought or not bought at a higher price” than the upper limit, Kyodo News. report..

“We are facing a serious situation where the order of peace is shaking. We do not specify when Russia’s oil price caps will come into force, but the aggression comes at a high price. Must be shown. “

Fumio Kishida announced that he is poised to maintain a majority prior to the Upper House election on July 10.

His remarks outline the group’s intention to strengthen sanctions to “prevent Russia from benefiting from the war of aggression” in Ukraine, following the joint communiqué announced by the G7 countries on June 28. increase.

The G7 said that the options under consideration include a “possible comprehensive ban on all services” related to the global transport of Russian sea shipping crude and petroleum products.

According to the communiqué, this is “unless oil is purchased below a price agreed in consultation with an international partner.”

“We call on all like-minded countries to consider participating in our actions,” said G7 leaders of the United States, Canada, Germany, Italy, Japan, and the European Union. rice field.

USA, UK, Japan, Canada Recently banned “Russian gold imports to increase pressure [Russian leader Vladimir Putin’s] War machine. Gold is Russia’s major export and contributed £ 12.6 billion ($ 18.86 billion) to Russia’s economy last year.

Japanese House of Councilors election

The Liberal Democratic Party, led by Fumio Kishida, aims to maintain a majority in the House of Councilors for the next three years. Opposition parties have criticized the government for rising inflation and a weaker yen.

Fumio Kishida has promised to step up Japan’s efforts to raise inflation against the backdrop of soaring energy and commodity prices, and Kyodo News has promised to step up Japan’s efforts to raise inflation. report..

“To protect your life and work, the government takes full responsibility and will do everything in its power to take steps to raise prices,” he said in a policy debate on June 25.

The yen fell against the US dollar last month to its lowest in 24 years. However, Fumio Kishida maintained support for the Bank of Japan’s ultra-loose monetary policy, arguing that opponents could accelerate the depreciation of the yen and raise import costs.

Reuters contributed to this article.

Aldograph Redley


Aldgra Fredly is a Malaysia-based freelance writer featuring the Epoch Times Asia Pacific News.