The United States Demands Japan Halt Russian Energy Imports

On October 15th, U.S. Treasury Secretary Benson said at a meeting between U.S. and Japanese finance ministers, “We discussed the U.S. government’s expectation that Japan halt its energy imports from Russia.” This demand, according to analysts, includes a halt to imports of Russian liquefied natural gas (LNG).

Japanese Finance Minister Katsunobu Kato met with Benson in Washington, D.C., on October 15th.

The U.S. Treasury Department announced that topics of the meeting included Japanese investment in the U.S., as outlined in the tariff agreement, and “G7 initiatives to increase economic pressure on Russia.” Benson also mentioned “halting energy imports” in a post on Twitter (X).

To intensify pressure on Russia, the United States is seeking cooperation from third countries to reduce Russia’s energy revenue.

The same day, U.S. President Trump announced that Indian Prime Minister Narendra Modi had pledged to halt purchases of Russian crude oil. The European Commission also announced in September that it would completely halt natural gas imports from Russia to EU member states by the end of 2026.

Russia accounts for 9% of Japan’s total LNG imports, and Japan maintains a stake in the Sakhalin-2 oil and gas development project in Russia’s Far East. If Russian natural gas becomes subject to US sanctions and Japan is unable to import it, this could negatively impact its stable energy supply.

After the meeting, Kato, when asked by reporters whether Bessent had asked Japan to halt imports, said, “I cannot disclose the details of other ministers’ statements.” He stated, “We will cooperate with G7 countries and do everything within our capacity to achieve a just peace in Ukraine.”

During the meeting, the Japanese and US Treasury ministers reaffirmed the contents of their joint statement released in September, including the statement that “exchange rates should be determined by the market.”

Regarding the current exchange rate, Kato stated, “The yen has depreciated, and the exchange rate has fluctuated dramatically. A stable exchange rate is beneficial to the economy and public life.”

Regarding the Japan-US tariff negotiations, Kato Katsunobu told Bessent, “From the perspective of the economic security of both countries, an agreement that serves the national interests of both countries is extremely important.” He also expressed his hope to jointly accelerate strategic investments that serve the interests of both countries. The two sides also exchanged views on China’s rare earth export controls.