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Russia ready to resume oil supplies to Japan if price cap removed — envoy

"According to our estimations, Japanese companies virtually fully stopped purchasing Russian oil last spring, being wary of the spread of American restrictions on them," Nikolay Nozdrev noted

TOKYO, April 3. /TASS/. Russia is ready to resume cooperation with Japan in the area of oil supplies under normal terms meeting international commercial practice, Russian Ambassador to Japan Nikolay Nozdrev said in an interview with TASS, adding that the price cap mechanism, which Tokyo joined, violates such terms.

"Tokyo has always considered cooperation in the oil and gas sector with the Russian Federation as one of main diversification areas and, of course, the Japanese side imported solid volumes for many years," he said, adding that such cooperation stopped after Japan decided to join the price cap mechanism.

"According to our estimations, Japanese companies virtually fully stopped purchasing Russian oil last spring, being wary of the spread of American restrictions on them," the diplomat said, adding that "their American competitors continue doing it under commercially beneficial terms with various mechanisms and channels applied." "Obviously we will be ready to resume this cooperation under normal terms meeting international commercial practice," he said, noting that it is possible if the price cap is removed.

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