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Japan refuses to raise tariffs on China and India over Russian oil trade

Japan refuses to raise tariffs on China and India over Russian oil trade Japan refuses to raise tariffs against China and India (photo: Getty Images)

Japan's Finance Minister Katsunobu Kato did not support the US call to impose higher tariffs on imports from China and India over purchases of Russian oil, Bloomberg reports.

"Japan has made a commitment within the framework of the World Trade Organization not to apply tariffs beyond its stipulated limits and to treat all member countries fairly, as long as others uphold their obligations under WTO agreements," Kato told reporters.

The Japanese minister's comments came after G7 countries discussed sanctions against Russia at an online meeting on Friday, September 12.

During the session, the United States urged its G7 allies to consider imposing tariffs of up to 100% on China and India because they continue to purchase Russian oil.

According to the Ministry of Trade, about 1% of Japan's oil imports in June came from Russia. Tokyo considers the Russian export project Sakhalin-2, located north of Japan, as a key source of LNG supply to the country. These supplies are not subject to Western sanctions.

"We are reviewing what type of pressure might be most effective and coordinating closely with our G-7 partners," Kato said, referring to possible measures to help stop Russia's aggression against Ukraine.

Meanwhile, G7 representatives are currently working on a new sanctions package and, according to a Bloomberg source, intend to finalize the text within the next two weeks.

Raising tariffs against China and India

Earlier, US Energy Secretary Chris Wright stated that European countries must stop purchasing Russian oil and gas if they want Washington to move forward with strengthening sanctions against Moscow.

According to the Financial Times, the United States will pressure G7 countries to impose tariffs of 50% to 100% on India and China for buying Russian oil.

US President Donald Trump issued a message to European allies, mainly NATO members, in which he expects them to follow his example and impose tariffs of 50% to 100% on Chinese goods imported into Europe.