Japan Bans Motor Oil Exports to Russia

Share

Japan’s Cabinet today expanded a ban on exports to Russia, adding 164 items to the list of prohibited items, including automotive engine oils.

The country initially implemented a ban on some categories of products in March of 2020 in cooperation with other countries sanctioning Russia to protest its invasion of Ukraine.

“We will make every effort to implement the ban on exports to and imports from Russia in cooperation with the international community,” Minister of Economy, Trade and Industry Ken Saito told a press conference, according to Arab News and other news outlets.

The amendment takes effect April 17. The Cabinet is the chief executive body of Japan’s national government, consisting of the prime minister and 19 other ministers.

Among the other categories of products added to the list were fuels and other mineral oil distillates; steel products; inorganic chemicals and precious metals; lithium-ion batteries; and yachts.

Separately, the Cabinet agreed to ban the import of Russian non-industrial diamonds, a measure pushed recently by the Group of Seven industrialized nations.

The 2020 export control policy aligned with a wide array of sanctions against Russia imposed by the European Union and other allies such as the United States and Australia, prohibiting for example imports of Russian crude oil and exports of materials that could aid Russia’s military. In addition, a long list of companies registered their own protests by exiting the Russian market, including a number of leading international lubricant and lubricant additive suppliers.

As a result, engine oil shortages developed in Russia, and suppliers from a number of other countries sought to fill the void by ramping up their own sales in the market.

Related Topics

Asia    Automotive Lubricants    Europe    Finished Lubricants    Japan    Market Topics    Region    Russia    Ukraine