Agencies
Japan is planning to dispatch an economic delegation to Russia as early as May in anticipation of Japanese firms fully resuming operations in the country once the Ukraine war ends, sources close to the matter said.
The Japanese government has asked at least five major trading houses and shipping company Mitsui O.S.K. Lines to join, according to the sources.
With concerns growing over energy imports from the Middle East due to the Iran war, the procurement of Russian crude oil could be discussed.
The plan, however, could prove controversial as Russia’s invasion of Ukraine continues and economic sanctions by Japan and the West remain in place.
A trading house official expressed concern that the visit “could invite criticism both domestically and internationally.” The government has reached out to Mitsubishi Corp, Mitsui & Co, Itochu Corp, Sumitomo Corp and Marubeni Corp to send executive-level officials on the visit. An industry source said that meetings with Russian government officials and corporate executives are important to maintaining minimal ties.
Mitsubishi Corp and Mitsui & Co are major stakeholders in the Sakhalin 2 oil and natural gas development project in the Russian Far East, led by the state-controlled energy giant Gazprom. Although the project is subject to U.S. sanctions, Japan has been granted an exemption allowing it to continue receiving liquefied natural gas supplies.