21 Apr 2022 11:44

Japan's Marubeni to comply with all sanctions against Russia

MOSCOW. April 21 (Interfax) - Japan's Marubeni Group intends to comply with the sanctions that the Japanese government has imposed against Russia over the situation in Ukraine, the company said in a statement.

"We will continue to monitor and strictly comply with all sanctions imposed on Russia by the Japanese government in cooperation with the international community. Furthermore, we will not engage in any new Russia-related business, and we will negotiate terminations of existing transactions wherever possible," Marubeni said.

"As we continue to gather information and carefully examine the situation, including responses to individual projects, we will take appropriate measures consulting with related parties, including government entities, while keeping the safety of people worldwide our top priority," the company said.

Marubeni is one of the shareholders of the SODECO consortium that owns a 30% stake in the Sakhalin-1 oil and gas project. The company is also an investor in the Volgograd Polymer LLC project of Roman Trotsenko and his business partner Andrei Donskikh to build a methanol plant with annual capacity of 1 million tonnes. The plant was scheduled to open in 2023.