In 2015, Japan to import record volume of Russian oil

Japan can import a record volume of Russian oil this year due to low prices, proximity to the supplier and high refining margins, the Reuters reports.

In January, the oil import from Russia increased by 63%, and the growth in the supply will help Japan to reduce its dependence on Middle Eastern oil, on which almost 95% of the import fall.

Sources note that it is convenient for Japan, ranked the fourth in the world in terms of the oil import, to buy Russian fuel, which can be deliveredduring a few days, while the supplies from the Middle East take about three weeks.