Japan Buys Russian oil abandoning the G7 agreement
April 03, 2023
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The recent action taken by Japan in the oil industry is significant as it involves breaking away from the US and purchasing Russian oil at prices higher than the set limit. It is noteworthy that the EU, supported by the US, had previously imposed a price ceiling on Russian oil, which means that it could only be bought for a maximum of $60 per barrel, even though Russia was selling it for $100. As Japan is a member of the G7 and a close ally of the US, it was not expected to buy Russian oil above the set limit. However, Japan's heavy reliance on Russian energy necessitated that it request an exception to the rules from the US in order to purchase Russian oil at higher prices.In fact, Japan had to explain its critical situation to the US to get AMERICA to agree to an exception to the rules, for Japan to purchase Russian oil above the imposed price ceiling. Japan obviously can’t seem to cope without Russian energy. Japan is heavily dependent on Russian energy and this, many analyst say is the reason they have been very careful not to get in too deep with Ukraine, in order not to anger Russia.Japan was not expected to buy the Russian oil above $60 per barrel. Which meant that Japan would avoid Russian oil because, of course, Russia was not going to sell its oil at a price imposed on it by “adversaries.” So Japan had to do without. But it wasn’t long before Japan caved.
This situation highlights the West's poorly thought-out actions against Russia, which are mainly aimed at punishing citizens. In contrast, Japan's decision prioritizes the interests of its people. According to many analysts, Japan's dependence on Russian energy is the reason why it has been cautious not to get too deeply involved with Ukraine in order to avoid provoking Russia.This is yet another proof that the west’s petty actions against Russia are poorly thought out, largely infantile and mostly geared towards citizen punishment. If nations like Japan and Hungary didn’t break with the hysteria to serve the interests of their citizens, who knows, maybe the war-like situation in France and parts of Europe today, would be their case. Kudos to Japan. People first.
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