According to trade figures made public this week by the Japanese Finance Ministry, Tokyo’s imports of liquefied natural gas (LNG) from Russia climbed considerably in August.
The data shows that the volume of Russian LNG deliveries to Japan increased by 211.2% from August 2021. Russian LNG imports increased by more than 380% in value.
In contrast, the number and value of imports of Russian oil in August decreased by 20.3% and 54.1%, respectively, over the same period last year. Japan likewise purchased less Russian coal this year (32.6 %), but it cost 120% more than in 2017.
Last month, Japan’s exports to Russia increased as well, with shipments of computers and computer components rising by 161.6% and 107.1%, respectively. But earlier this year, deliveries of semiconductors to Russia were stopped because of sanctions. Bus and truck exports to Russia decreased, while auto exports rose by 5.8%.
Japan has backed the US and EU’s reaction to Russia’s military campaign in Ukraine by supporting the imposition of sanctions against Russian citizens, businesses, the financial industry, and more than 300 export and import commodities. To secure continued access to supplies, Tokyo has pushed its corporations to preserve their holdings in Russian oil and gas projects. Tokyo has been unwilling to imperil its energy supply.
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