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Japan unsure how Russia will execute rouble payments for energy sold to ‘unfriendly’ nations -Breaking


© Reuters. FILE PHOTO: Shunichi Suzuki, Japan’s Finance Minister, prepares for the opening of Tokyo Stock Exchange (TSE) trading in 2022 during the New Year celebration. This was happening amid the COVID-19 pandemic in Tokyo.

TOKYO (Reuters), Japan doesn’t know how Russia will pay the required roubles for energy it sells to countries that are “unfriendly”, the minister of finance said Thursday.

Japan was responsible for 4.1% and 7.2% respectively of Russia’s 2021 exports.

Shunichi Suzuki, Finance Minister said that they are currently investigating the situation with relevant ministries because we do not understand Russia’s intention or how it would accomplish this.

Hirokazu Matsuno, chief cabinet secretary, stated that the government would also work with Japanese companies in order to gather information on the move.

Russian President Vladimir Putin stated Wednesday that Russia would demand payment in rubles for gas sales made to unfriendly countries as a retaliation against Western sanctions.

Russia added Japan to its list of “unfriendly nations” along with the United States and other members of the European Union.

Japan has removed Russia from its most-favoured nations trade status and banned certain exports. It also frozen about 100 Russian bank accounts and individuals.

Suzuki indicated that Japan’s government would be closely monitoring the effects of sanctions on its economy and financial markets, and will continue to coordinate with the Group of Seven (G7) as well as the international community.

Fumio Kishida (Japan’s Prime Minister) stated that on Wednesday he plans to issue additional sanctions against Russia at the upcoming G7 conference in Brussels.

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