The head of the Japan Bank for International Cooperation said Thursday that the government-owned lender has no choice but to review businesses with Russian partners after the invasion of Ukraine.
The Japanese government, along with various domestic energy firms, holds a stake in Sakhalin Oil and Gas Development Co. (SODECO) — a joint venture with Russian state-backed energy firms. SODECO owns a 30% stake in the Sakhalin 1 oil and gas project, and the government has extended loans to both Sakhalin 1 and its sister project Sakhalin 2, which are located in the Russian Far East.
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