Japan Buys Russian Oil Above Global $60 Cap

Japan, the only G-7 nation not to supply lethal weapons to Ukraine, has secured a U.S.-approved exception to purchase Russian crude oil at prices above the global $60-a-barrel cap, The Wall Street Journal reported Sunday.

Tokyo relies heavily on Russia for fossil fuels, particularly natural gas from the Sakhalin-2 project in Russia's Far East. Japan's dependence on Russian energy has contributed to a hesitancy to back Ukraine more fully in the war.

The exception to purchase Russian oil has been granted until Sept. 30.

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