Some Japan-Russia cooperation continues in seafood, energy
Japan has agreed to pay Russia from USD 1.6 million to USD 2.3 million (EUR 1.5 million to EUR 2.1 million), depending on the catch total, for fish caught in its own exclusive economic zone (EEZ) north of Hokkaido. The payment is made based on the principle that salmon caught in this part of the ocean originated in Russian rivers. The final agreement was signed on 25 April.
Meanwhile, as corporations try to distance themselves from Russia, Marubeni Corporation announced by press release on 21 April that it would make some changes to its Russia-related business, in response to the invasion of Ukraine.
The Tokyo-based trading company, which is a major player in the global seafood industry, will start using the spelling “Kyiv” for the Ukrainian capital, rather than “Kiev,” in the name of its liaison office there. The former is a Romanization of the Ukrainian language pronunciation, while the latter is a Romanization of the Russian language pronunciation. The change is in line with the Japanese government’s announcement that it will change the spelling in Japanese katakana characters along the same lines. In Ukraine, Marubeni distributes Hitachi-brand mining equipment and services mining equipment.
Marubeni is involved in building a methanol plant in Volgograd, and a natural gas power plant in Vladivostok. On the island of Sakhalin, north of Hokkaido, Marubeni is participating in the Sakhalin-II liquefied natural gas (LNG) project. The Japanese government has said that Japan does not intend to withdraw from Sakhalin oil and gas projects, as they are needed to ensure a long-term stable energy supply.
Marubeni said that it will strictly comply with all sanctions imposed on Russia by the Japanese government, will not engage in any new Russia-related business, and will negotiate terminations of existing transactions wherever possible.
Photo courtesy of the government of Japan