Japan lifts price cap on Sakhalin-2 oil

At the same time, importers must prove the origin of the oil, i.e. obtain the appropriate certificate and permit. To do this, the importer must first submit an application

The Japanese authorities have lifted restrictions on import prices for oil produced within the Sakhalin-2 project. The decision was made for energy security reasons. At the same time, importers must prove the origin of the oil, i.e. obtain the appropriate certificate and permit. To do this, the importer must first submit an application, RIA Novosti reports.

Tokyo today decided to lower the price ceiling for Russian oil from $60 to $47.6 per barrel from September 12. It is worth noting that previous price restrictions for Russian oil in Japan also did not apply to the supply of resources extracted within the framework of the Sakhalin-2 project to this country.