Japan’s companies should prepare for cancellation of sanctions against Russia - expert

TOKYO, August 30. /TASS/. Japan’s company should be prepared for time when sanctions on Russia that limit bilateral cooperation to a certain degree will be lifted, Nobuo Tanaka, president of Japan’s Sasakawa Peace Foundation (SPF) said in an interview with TASS on the verge of the Eastern Economic Forum (EEF). "I wish that Japanese companies should also prepare for the time when we may have more investment to Russia in energy sector," the expert said. Representatives of the private sector, including from Europe and the US, look forward to cancellation of restrictive measures in future, he said. "I strongly hope that coming Vladivostok economic forum will provide a good opportunity for the better discussion or dialogue between players in Russia as well as in Japan," Tanaka said. Sanctions against Russia are narrowing opportunities for bilateral cooperation in the energy sphere, the expert said. "Sanctions cover certain issues. I think connectivity of power gridlines, pipeline connection is not covered by sanctions. Even under the current sanction regime it is possible. We can do it at any moment. It's a very specific energy sector - difficult technologies, underwater gas development. These are the areas, which sanctions cover," he added. "But especially financial sector in Japan is very concerned. European financial sector - the same thing. They are concerned about American financial sanctions. Even though the specific project may not be covered by sanctions, they are somehow reluctant and too cautious," Tanaka said. Such situation will not last forever, the SPF President said. "Sanctions are always very political; they could be removed by different political reasons," he added. Cooperation with Russia in energy sphere is critical for Japan, Tanaka said. "Energy is one of the important areas," he said. "Energy is certainly of mutual interest," the expert added. Russia will host the second Eastern Economic Forum in Vladivostok on September 2-3. Read more