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Japan loses from sanctions against Russia, but profits break records


The losses of seven leading Japanese corporations from the impact of sanctions imposed against Russia over Ukraine were estimated at over $2 billion by April. Among others, Mitsui, Mitsubishi and Sumitomo lost money. The newspaper Sankei Shimbun wrote this ( based on the results of the companies' annual reports for last year. The amount of losses includes reduction of the market price of corporate assets in Russia and Sakhalin-1 ( and Sakhalin-2 Asia oil and gas projects.

Despite the losses, the final profit of all seven companies reached a record high level.

The other day, the G-7 countries agreed to reduce their dependence on Russian energy resources - primarily oil and gas. At the same time, Tokyo, a member of the group, intends to retain its shares in Sakhalin projects.


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