The ol produced within the Sakhalin-2 project will not be subject to Russian oil price cap, the Japanese Foreign Ministry said, adding that the move is made to ensure Japan's energy security, Report informs via foreign media.
The oil price cap came into force on December 5. The EU and G7 countries agreed to a price cap for Russian oil at $60 per barrel.
The Japanese Foreign Ministry said the oil price cap won't cover oil with the contracts for supply concluded before December 5, if it is shipped to Japan until January 19, 2023.