Nikkei reports that Japan's PM has rejected the US request to ban Russian imports of energy

The Nikkei daily, citing Japanese officials, reported that the Japanese Prime Minister Sanae Takaichi had told U.S. president Donald Trump during their meeting on Wednesday in Tokyo that it would be difficult to ban Russian LNG imports.

Sakhalin-2 is a project in which Japanese companies Mitsui & Mitsubishi have stakes.

Before Trump's Asia visit this week, the U.S. encouraged buyers of Russian oil, including Japan to stop imports and put sanctions on Moscow’s two largest oil exporters, Rosneft, and Lukoil in an attempt to push the Kremlin to enter into negotiations to end the Ukraine War.

According to Nikkei Takaichi was elected as Japan’s first female Prime Minister last week. She told Trump that China and Russia would be only happy if Japan withdrew, and asked the U.S. to understand Japan’s energy needs.

China and India are the top two buyers of Russian Energy.

Japan has increased its U.S. Liquefied Natural Gas purchases over the past few years to diversify from Australia, which is the country's main LNG supplier. It also wants to prepare for the expiration of contracts with Russia’s Sakhalin-2 project.

Sakhalin-2's supply will end in 2028-2033. Japan's Industry Minister said that replacing those supplies would cost a lot and lead to higher electricity prices.

Last week.

Japan imports less than 1 percent of its oil from Russia, under a waiver that expires in December. The Middle East provides the majority of Japan's oil. (Reporting and editing by Jacqueline Wong, Kim Coghill and Katya Glubkova)

(source: Reuters)