WASHINGTON: The United States wants Japan to halt Russian energy imports, US. Treasury Secretary Scott Bessent said Wednesday, hours after President Donald Trump announced that India would stop buying oil from Moscow. Bessent said on X that he discussed with visiting Japanese Finance Minister Katsunobu Kato Washington&rsquo;s &ldquo;expectation that Japan stop importing Russian energy.&rdquo;Japan relies heavily on importing oil and gas from abroad. In 2023, Japan spent 582 billion yen ($3.9 billion) importing Russian liquefied natural gas (LNG), according to the latest customs data available. This accounted for 8.9 percent of its total LNG imports. Japanese media in Washington quoted Kato declining to be drawn out on Bessent&rsquo;s comments. &ldquo;I&rsquo;d like to refrain from discussing what other ministers said,&rdquo; Kato was quoted as saying. &ldquo;We are committed to doing what we can to realize a just peace in Ukraine by coordinating with fellow G7 countries,&rdquo; he said. On Wednesday, Trump said that Indian Prime Minister Narendra Modi had promised him New Delhi would stop buying Russian oil. &ldquo;You know, you can&rsquo;t do it immediately. It&rsquo;s a little bit of a process, but the process is going to be over with soon,&rdquo; Trump told reporters. Modi has previously defended buying oil from Russia, a historic partner of India, despite Moscow&rsquo;s invasion of Ukraine. Trump in August raised tariffs on Indian exports to the United States to 50 percent, with Trump&rsquo;s aides accusing India of fueling Russia&rsquo;s war in Ukraine. Bessent said that he and Kato also discussed &ldquo;plans for mobilizing Japan&rsquo;s strategic investment in the United States through the US-Japan trade and investment agreement.&rdquo;

U.S. Treasury Secretary Scott Bessent looks on during a press conference with U.S. Trade Representative Jamieson Greer on the sidelines of the IMF/World Bank annual meetings in Washington, D.C., US., October 15, 2025. (REUTERS/Ken Cedeno)

Business

The United States wants Japan to halt Russian energy imports, US Treasury Secretary Scott Bessent said Wednesday, hours after President Donald Trump announced that India would stop buying oil from Moscow.

US wants Japan to stop buying Russian energy

Web Desk

ISLAMABAD: Oil prices held steady Monday as markets weighed the impact of Ukrainian drone attacks on Russian refineries against expectations for U.S. fuel demand and a possible Federal Reserve rate cut this week. Brent crude rose 3 cents to $67.02 a barrel, while U.S. West Texas Intermediate gained 8 cents to $62.77 by 12:09 a.m. GMT, the global standard for coordination. Ukraine strikes Russian infrastructureBoth benchmarks rose more than 1% last week after Ukraine struck key Russian energy infrastructure, including the Primorsk terminal and the Kirishi refinery. Primorsk, Russia&rsquo;s largest oil port in the west, can load about 1 million barrels per day, Reuters reported.&nbsp; The Kirishi refinery processes roughly 355,000 barrels per day, equal to 6.4 percent of Russia&rsquo;s refining capacity. Analysts at JPMorgan said the attacks signaled &ldquo;a growing willingness to disrupt international oil markets,&rdquo; which could put upward pressure on prices. In Russia&rsquo;s Bashkortostan region, local officials said production would continue despite a weekend drone strike.&nbsp; Impending US sanctionsThe pressure grew as U.S. President Donald Trump warned Sunday he was ready to impose tougher sanctions on Russia and urged European nations to match U.S. measures. &ldquo;Europe is buying oil from Russia. I don&rsquo;t want them to buy oil,&rdquo; Trump told reporters. He added that &ldquo;the sanctions they are putting on are not tough enough, and I am willing to do sanctions, but they are going to have to toughen up their sanctions commensurate with what I am doing.&rdquo; Federal reserve policy meetingInvestors are also watching U.S., China and rising inflation have raised concerns about economic momentum ahead of the Federal Reserve&rsquo;s policy meeting on September 16-17, where markets expect a possible interest rate cut to support growth, Reuters reported. The recent developments highlight how geopolitical tensions in Eastern Europe, trade negotiations in Europe, and monetary policy in the United States are converging to shape the global oil market outlook.

Oil prices held steady Monday as markets weighed the impact of Ukrainian drone attacks on Russian refineries against expectations for U.S. fuel demand and a possible Federal Reserve rate cut this week.

Articles tagged with "Energy"

US wants Japan to stop buying Russian energy

Oil prices edge higher after attack on Russian energy infrastructure