Overview
- A Russian tanker carrying crude from Sakhalin-2 is approaching Japan under a sanctions exemption.
- Taiyo Oil bought the cargo after resuming Sakhalin purchases last year at the government’s request.
- Prime Minister Sanae Takaichi thanked Crown Prince Mohammed for ongoing Saudi shipments and asked for more supply.
- Japan is releasing 80 million barrels from national reserves as part of the IEA’s 400-million-barrel plan.
- With about 95% of its oil coming from the Middle East, the government is subsidizing fuel to cushion households and businesses.