Japan has joined the price ceiling for Russian oil products

Official Tokyo has joined the ceiling of prices for petroleum products from Russia introduced by the European Union, the Ministry of Foreign Affairs of Japan reported. The limit is being introduced "in connection with the current situation in Ukraine and as a contribution to international efforts being made to solve this problem and for world peace," the foreign Ministry said in a statement. The sanction is imposed on the basis of the local law on currency exchange and foreign trade. The content of the measures is identical to the accepted restrictions on prices for petroleum products from the Russian Federation.

"Our country is introducing measures to ban the import of crude oil and petroleum products produced in Russia above the marginal price: for expensive petroleum products – 100 US dollars per barrel, for low–priced petroleum products - 40 US dollars per barrel", - the Japanese Foreign Ministry said.

On the eve of February 5, fuel sanctions against Russia came into force. At the same time, the ban on the supply of Russian petroleum products does not apply to all EU countries. Those who will not be able to quickly find a replacement for Russian raw materials will continue purchases until the end of this year. An exception was made for Sofia and Zagreb, which will be able to import gas oil. A relaxation has also been announced for Prague, which has the opportunity to purchase diesel from Moscow in the future.