The Japanese company Taiyo Oil reported that it is purchasing Russian oil as part of the country's efforts to diversify supplies and ensure stability amid the situation in the Middle East. This was reported by Nikkei Asia.
The company, which is the fourth largest oil refiner in Japan, has purchased oil from the Sakhalin-2 project in the Far East of Russia.
As noted by a senior representative of the Agency for Natural Resources and Energy, it was this agency that approached Taiyo with a request to purchase oil.
"Sakhalin Blend oil is lighter than oil from the Middle East, which Japan relied on for 95% of its oil imports until the war with Iran and the effective closure of the Strait of Hormuz. Taiyo, which used Sakhalin oil even before Russia's invasion of Ukraine, stated that it would be able to process this oil without any problems," the report explained.
According to MarineTraffic, the tanker "Voyager" flying the flag of Oman departed from the southern tip of Sakhalin Island and is expected to dock in Japan's Ehime Prefecture on Sunday.
Nikkei Asia emphasized that "Voyager" is subject to U.S. sanctions; however, Taiyo stated that shipments related to Sakhalin-2 can continue without the risk of sanctions.
"As the war in the Middle East has highlighted the risks of Japan's dependence on oil from this region, Japanese oil refining companies are taking steps to diversify their supply chains. Cosmo Energy Holdings imported 910,000 barrels of American oil at the end of April," the publication reminded.
At the same time, the Finnish Centre for Research on Energy and Clean Air reported that in March, Russia's revenues from crude oil exports by sea increased by 115% compared to the previous month. Overall, Russia's revenues from fossil fuel exports rose by 52% and reached the highest monthly figure in the last two years.
