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INTERNATIONAL > Ukraine Crisis

Japanese oil wholesalers steer clear of Russian products 

  • April 1, 2022
  • , Mainichi
  • JMH Summary

Mainichi front-paged an article saying that Japanese energy companies are moving to discontinue purchasing Russian petroleum out of fear that importing Russian products may provoke strong reactions from consumers and stockholders at home and abroad in the wake of Moscow’s invasion of Ukraine. Some oil wholesalers have reportedly received complaints from customers who said that the continued purchase of Russian oil is tantamount to “abetting Putin’s war.” Noting that many Japanese enterprises are now keenly aware that continuing business with Russia risks reputational damage, the daily observed that the corporate exodus from Russia is picking up further momentum, extending to the oil industry in addition to the retail and manufacturing industries.   

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