• Reuters, JIJI

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Japanese trading house Marubeni Corp. said Friday it had cut its exposure to Russia by ¥12.6 billion ($97 million) in the year that ended March 31, mainly by writing down its stake in the country's Sakhalin-1 oil project.

Its net exposure to Russia, including long-term credit, fixed assets and investments, was reduced to ¥12.3 billion as of the end of March, from ¥24.9 billion a year earlier, the company said.

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