• Kyodo

  • SHARE

Major Japanese trade houses Mitsui & Co. and Mitsubishi Corp. said Tuesday they have trimmed the value of their stakes in the Sakhalin-2 oil and natural gas project in the Russian Far East by a combined ¥217.7 billion ($1.7 billion), citing growing business uncertainty.

Mitsui cut its investment value by ¥136.6 billion and Mitsubishi by ¥81.1 billion after Russian President Vladimir Putin signed a decree in late June to seize control of the project with the creation of a new operating company.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.

SUBSCRIBE NOW

PHOTO GALLERY (CLICK TO ENLARGE)