Business Desk :
Japan, the world’s third-largest coal importer, said on Friday it will ban coal imports from Russia and impose a wide range of additional sanctions, including freezing the assets of two major banks and broadening sanctions against individuals.
Prime Minister Fumio Kishida made the announcement, which follows similar steps taken by the United States and European Union nations, at a news conference shortly after Japan announced it was expelling eight Russian diplomats and trade officials, reports Reuters.
This marks a reversal for Japan, which earlier had said it would reduce imports gradually while looking for alternative suppliers in the wake of sanctions against Russiaafter its invasion of Ukraine on Feb 24.
The move also highlights a potential shift in Japan’s energy procurement policy. Russia accounted for 11% of Japan’s total coal imports in 2021, according to government data. Russia was Japan’s fifth-biggest supplier of crude and liquefied natural gas (LNG) in 2021.
Japan imports nearly all of the coal it consumes, making it the third-largest importer after India and China, according to the US Energy Information Administration data.
“We would need to find alternative suppliers or we would face difficulties securing domestic coal which could lead to power outages and such.
