War in UkraineOne year on

Japan Breaks With U.S. Allies, Buys Russian Oil at Prices Above Cap

Citing energy needs, Tokyo won exception to rules binding G-7 nations

Access to liquefied natural gas from Russia’s Far East is a priority for Japan’s government. Photo: Sergei Krasnoukhov/Zuma Press

TOKYO—The U.S. has rallied its European allies behind a $60-a-barrel cap on purchases of Russian crude oil, but one of Washington’s closest allies in Asia is now buying oil at prices above the cap.

Japan got the U.S. to agree to the exception, saying it needed it to ensure access to Russian energy. The concession shows Japan’s reliance on Russia for fossil fuels, which analysts said contributed to a hesitancy in Tokyo to back Ukraine more fully in its war with Russia.

What's News

Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue reading your article with
a WSJ subscription

Subscribe Now

Already a subscriber? Sign In

Sponsored Offers
  • Kohl's:
    Save 15% on orders of $100+ with Kohl's coupon
  • Walmart:
    Walmart Weekend Only Sale! Up to 50% off
  • Target:
    Target Promo Code: 20% Off Entire Order
  • Top Resume:
    10% TopResume Discount Code for expert resume-writing services
  • Groupon:
    Groupon Promo Code - 30% Off