The companies have not signed new oil supply contracts since the beginning of the war in Ukraine.
The largest Japan's refiners Eneos and Idemitsu have said they will stop importing Russian oil, joining a growing list of energy companies avoiding cooperation with the aggressor country after its invasion of Ukraine.
Eneos Holdings Inc., Japan's largest oil refiner, has not signed new contracts for the supply of Russian oil since the start of the war, chief executive officer Tsutomu Sugimori said Tuesday in Tokyo.
This is reported by The Japan times.
Idemitsu Kosan Co. also said it would not enter into new agreements on the supply of Russian oil.
Rejecting Russian oil supplies is a difficult step for Japan, which imports almost all fossil fuels and is already struggling with soaring commodity prices. This year, oil prices have risen by more than 50%, reaching their highest level since 2008 earlier this month.
Eneos will purchase alternative oil supplies from the Middle East. Russian oil, which is subject to contracts signed before the invasion of Ukraine, will be supplied to Japan until April.
Idemitsu said that the decision to abandon Russian oil will not affect the stability of the supply of its oil products, since oil from the Russian Federation accounted for only 4% of its purchases.
Recall that EU countries have not agreed on an energy embargo against Russia.
