Japan Breaks With U.S. Allies, Buys Russian Oil at Prices Above Cap

U.S. grants exception for Japan to buy Russian oil above $60 a barrel cap

As the EU continues to shift away from Russian energy dependence, one Western ally has been given an exception to the agreed upon price cap.

Another Loss for the US: Japan Breaks with Western Allies, Buys Russian Oil at Prices Above Cap

The international Group of Seven (G7) – an intergovernmental political forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States – agreed on a price cap for Russian oil on December 3, 2022: $60 per barrel. However, one of the United States’ closest Asian allies is now purchasing Russian oil at prices above the cap, breaking with the sanctions imposed by US allies. Japan’s crude imports were exempted from

Japan breaks ranks with US allies, purchases Russian oil at price higher than cap

The United States has rallied its European allies behind a USD 60-per-barrel ban on purchases of Russian crude oil, but one of Washington closest Asian allies

Anti-Russia Alliance Splinters As Japan Buys Russian Oil At Price Above Cap; Others To Follow

Anti-Russia Alliance Splinters As Japan Buys Russian Oil At Price Above Cap; Others To Follow Today OPEC+ woke up and chose scorched-earth war against the Fed. That's because while the US central bank is already trapped, and is desperately looking for any excuse to halt its tightening campaign now that inflation is accelerating to the downside not just because regional banks desperately need a lower Fed Funds rate to short-circuit the relentless…

Still Tough on Putin? U.S. Grants Japan Permission to Buy Russian Oil

While Joe Biden talks a good game about being tough on Vladimir Putin, his administration agrees to let Japan keep buying fossil fuels from Russia.

Japan buys Russian oil above $60-a-barrel cap, breaking with US allies: report

Japan has been buying Russian oil beneath the western-imposed price cap of $60 a barrel, though Russian-sourced imports remain relatively small.