Japan to send officials to Russia in May over protection of companies' assets

TOKYO, May 12 (Reuters) - Japan plans to send several officials to Russia in late May to facilitate communication and help protect assets owned by Japanese companies operating there, the Minister of Economy, Trade and Industry Ryosei Akazawa said on Tuesday.

The trip to Moscow will be coordinated with the relevant companies, he said, without providing further details.

But Akazawa denied media reports that the visit was aimed at post-war economic cooperation or energy cooperation.

"Japan will continue implementing sanctions against Russia in coordination with the G7 and is not in a position to pursue new cooperation with Russia," Akazawa said.

"On the other hand, it is necessary to take measures to protect the assets of Japanese companies in Russia," he said, adding that the government has maintained communication with Moscow for that purpose.

Asked whether Japan plans to increase imports of Russian crude following recent purchases from the Sakhalin-2 project, Akazawa said Japan's policy remains unchanged.

"We will continue working closely with the international community, including the G7, to support Ukraine and maintain sanctions against Russia," he said.

Japan and other Western nations have imposed numerous economic sanctions on Russia after its full-scale invasion in 2022.

Japan is seeking alternative crude supplies after the U.S.-Israeli war with Iran largely disrupted imports from the Gulf, Tokyo's main oil source before the conflict erupted in late February.

Japan secured alternative crude supplies in April equivalent to more than 20% of year-earlier imports, Akazawa said. For May, it secured procurement contracts for about 1.4 million barrels per day, equivalent to around 60% of the previous year's volume, and is making every effort to exceed that level in June.