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Japan pushes UAE to stabilise international oil supply amid Russian cut

Japanese Prime Minister Fumio Kishida in Tokyo, Japan on 3 March 2022 [REUTERS/Kim Kyung-Hoon/Anadolu Agency]
Japanese Prime Minister Fumio Kishida in Tokyo, Japan on 3 March 2022 [REUTERS/Kim Kyung-Hoon/Anadolu Agency]

Japan has asked the UAE to help stabilise international crude oil supplies amid growing uncertainty due to the Ukraine war and measures against Russia, Anadolu News Agency reports.

In a phone call, Japanese Prime Minister, Fumio Kishida, told Abu Dhabi Crown Prince, Sheikh Mohammed bin Zayed Al Nahyan, that the UAE must make "proactive contributions" as a major oil producer, Kyodo News reported on Tuesday.

The Japanese premier said the two sides agreed to "coordinate closely toward stabilising global crude oil markets."

Global energy prices are rising, as the US and its allies are blocking energy supplies from Russia after it launched war on its western neighbour on 24 February.

Although energy-deficient Japan has walked a cautious path on stopping energy imports from Moscow, it has imposed sanctions on President Vladimir Putin and other Russian officials and financial institutions.

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The call between Kishida, leader of a key US ally, and Al Nahyan comes amid reports that top officials of Saudi Arabia and the UAE have been giving US President Joe Biden the cold shoulder.

According to American news outlet, Wall Street Journal, Al Nayhan and Saudi Crown Prince, Mohammad bin Salman, "both declined US requests" to speak to Biden "in recent weeks."

Export ban

Japan, on Tuesday, imposed a ban on exports of nearly 300 items and technologies to Russia and Belarus.

The ban is part of Tokyo's sanctions on Moscow and aims to prevent the two countries "from boosting their military capabilities," Kyodo News reported.

"The embargo on exports of 266 products, such as semiconductors, communication equipment and cutting-edge materials, and 26 technologies, including design programs for chip-making machines, will take effect on Friday," the report quoted Japan's Economy, Trade and Industry Ministry as saying.

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Exports of oil-refining equipment and related technologies to Russia will also be prohibited, the Ministry added.

The Russia-Ukraine war has drawn international condemnation, led to financial sanctions on Moscow, and spurred an exodus of global firms from Russia.

At least 636 civilians have been killed and 1,125 injured in Ukraine since the beginning of the war, the UN has said, stressing that conditions on the ground make it difficult to verify the true number.

Over 3 million people have also fled from Ukraine, according to UN estimates.

Russian President Vladimir Putin's recognised two breakaway territories in Eastern Ukraine - Cartoon [Sabaaneh/Middle East Monitor]

Russian President Vladimir Putin's recognised two breakaway territories in Eastern Ukraine – Cartoon [Sabaaneh/Middle East Monitor]

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Asia & AmericasEurope & RussiaJapanMiddle EastNewsRussiaUAEUkraine
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