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Japan To Consider Whether To Buy Russian Crude Following US Sanctions Waiver
(MENAFN- Khaleej Times) [Editor’s Note: Follow Khaleej Times live blog amid ** US-Israel-Iran war** for the latest regional developments.]
Japan will consider whether to buy Russian crude after the US issued a 30-day sanctions waiver amid the Iran war by taking into account international conditions and its national interests, an industry ministry official said on Friday (March 13).
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The US waiver allows countries to buy sanctioned Russian oil and petroleum products currently stranded at sea, in what Treasury Secretary Scott Bessent said was a step to stabilise global energy markets, which have been roiled by the Iran war.
“We will consider the matter in light of various international circumstances and Japan’s national interests,” said Narumi Hosokawa, deputy general-director for immediate crisis management at the Ministry of Economy, Trade and Industry (METI).
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Russian crude is important for a stable energy supply, but Tokyo must continue taking “appropriate measures” while balancing the Group of Seven discussions and broader international coordination with its national interests, another METI official said.
Japan imported 94 per cent of its crude from the Middle East in 2025, with 93 per cent of shipments passing through the Strait of Hormuz, which is effectively controlled by Iran. Flows via the strait have been virtually blocked due to the US-Israeli war on Iran.
Tokyo plans to release about 80 million barrels from its strategic reserves, equivalent to 45 days of supply, to mitigate global disruptions stemming from the Middle East conflict, officials said on Wednesday.
On Thursday, the government asked domestic refiners to use crude to be released from strategic reserves to secure domestic petroleum supplies. The request does not restrict the exports of surplus products generated during the refining process.
Japan’s industry minister Ryosei Akazawa said earlier on Friday that domestic refiners are seeking alternative crude supplies from regions such as the US, Central Asia and South America.
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