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Japan Secures Sanction-Free Sakhalin-2 Crude Amid Hormuz Disruptions

5/6/2026

22 5 Full Breakdown

Summary

Story summary

Taiyo Oil Co. unloaded a Sakhalin-2 cargo at its Imabari refinery on May 6, 2026.
Japan’s Ministry of Economy, Trade and Industry bought the cargo diversifying supplies after Hormuz disruptions.
The oil, from Gazprom’s Sakhalin-2 where Mitsui & Co. 12.5% and Mitsubishi Corp. 10%, is not subject to U.S. or European sanctions.
Japan imports 95% of its crude from the Middle East and holds strategic reserves of 263 million barrels for 250 days.

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Story summary

Taiyo Oil Co. unloaded a Sakhalin-2 cargo at its Imabari refinery on May 6, 2026.
Japan’s Ministry of Economy, Trade and Industry bought the cargo diversifying supplies after Hormuz disruptions.
The oil, from Gazprom’s Sakhalin-2 where Mitsui & Co. 12.5% and Mitsubishi Corp. 10%, is not subject to U.S. or European sanctions.
Japan imports 95% of its crude from the Middle East and holds strategic reserves of 263 million barrels for 250 days.