Russia wants to give Japan control over oil and gas projects

japan

The deputy Prime Minister Arkady Dvorkovich said that Russia is ready to offer Japanese investors a controlling stake in oil and gas projects. He also stated the need to make progress in economic cooperation with Tokyo before a possible visit to the country of Russian President Vladimir Putin.

According to Nikkei , Dvorkovich noted that Russian authorities are interested in joint economic development of the Kuril Islands, which Japan considers its Northern Territories. In addition to that, despite the sanctions, Moscow “constructively cooperates with Japanese companies”. According to the deputy Prime Minister, this creates a good environment for political dialogue.

As for Putin’s visit to Japan, Dvorkovich noted that it is necessary to prepare a package of important agreements.

The media also notes that earlier Russia rarely allowed foreign companies to gain control over oil and gas projects, but Western sanctions “have reduced the flow of financing the oil industry, and forced Moscow to seek for Chinese capital investment”. With Japanese investment Russia is also trying to “get rid of excessive economic dependence on China.”

Source: Rosbalt