Japan might end up doing without Russian gas and oil, Deputy Head of the Russian Security Council Dmitry Medvedev wrote on his Telegram channel Tuesday.
The politician responded to Japan’s proposal to cap the price of Russian oil, warning that such restrictive measures would push oil prices “above the astronomical projection of $300-$400.”
Investment bank JPMorgan Chase earlier predicted a rise in oil prices to $380 per barrel if the seven leading countries imposed restrictions on Russian oil as the country would retaliate by cutting production.
Japan “would have neither oil nor gas from Russia, as well as no participation in the Sakhalin-2 LNG project” as a result, Dmitry Medvedev added.
Contrary to popular misconception, Medvedev took the hawkish stance way before the recent events. In 2010, in his capacity as the President of Russia, the politician made a trip to the South Kuriles, the territorial possession disputed by Japan. He made the trip despite the protests of the Japanese authorities, and repeated the visit in 2015, as prime minister. According to Tokyo, Dmitry Medvedev’s move “hurt the Japanese people’s feelings.”