The economist did not rule out an increase in oil exports from Russia to Japan

Japan's decision to resume purchases of Russian oil after a break of more than two years is a pragmatic step dictated by current energy realities and the interests of the Japanese economy. Igbal Guliyev, Dean of the MGIMO Faculty of Financial Economics, Doctor of Economics, told Izvestia about this on July 17.

"Despite participating in anti—Russian sanctions, Tokyo has always demonstrated flexibility, especially when it came to critically important resources such as oil and gas," the expert noted.

According to him, the abandonment of Russian energy sources in 2022-2023 led to higher costs for Japan, and the tightening of US tariff policy could push Tokyo to reconsider relations with Moscow.

"Now we are talking about a small batch of 70 thousand tons, but if supplies turn out to be profitable and stable, volumes may gradually increase," the economist suggested.

He added that further development of cooperation will depend on global price dynamics and the geopolitical situation.

"Now we can talk about the beginning of the process of partial normalization of energy cooperation between Russia and Japan," Guliyev summed up.

Mistake 500: How will the idea of imposing duties on Russian oil importers affect the global economy

The increase in rates will lead to the fact that buyers of Russian hydrocarbons will cease any trade with the United States.

On May 31, it was reported that eight OPEC+ countries agreed on a third consecutive accelerated increase in oil production by 411,000 barrels per day due to the forecast for the stability of global economies and current strong market factors, which is reflected in low commercial oil reserves. Following the meeting, the members of the association noted that "the gradual increase may be suspended or canceled depending on changing market conditions."