• About Us
  • Careers
  • Brand Partnerships
TFI Official Merchandise
TFI English
TFI हिन्दी
Thursday, June 8, 2023
TFIGlobal
TFIGlobal
Right Arm. Round the World. FAST.
No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean
TFIGlobal
TFIGlobal
No Result
View All Result

Japan blows up its own energy, EV, and paper industry to harm Russia

Ansh Pandey by Ansh Pandey
April 10, 2022
in Geopolitics
Reading Time: 2 mins read
0
Japan blows up its own energy, EV, and paper industry to harm Russia

Source: CFR.com

611
VIEWS
Share on FacebookShare on Twitter

The international community is imposing a wave of sanctions on Russia after its invasion of Ukraine. Recently, Japanese Prime Minister Fumio Kishida declared a ban on Russian coal imports.

On the subject of alternatives, Kishida stated that Japan will quickly obtain alternative energy supplies and steadily cut imports, reducing its energy-dependent on Russia. However, he refused to give a timetable for the relocation.

Also Read

Japan will be the biggest casualty of the US-Russia showdown in sea of Okhotsk

Trudeau’s Global Isolation is about to get Worse

Kishida is making quick efforts to impress his Western allies. His government is still pushing for sanctions against Russia. He is, nevertheless, completely unaware that his activities are harming Japan’s interests.

Its EV industry is already under strain. Japan’s energy and paper industries are further about to blow up in search of Russian coal substitutes.

Japan is massively dependent on Coal

Japan’s reliance on coal is enormous. It is the world’s third-largest coal importer. The country produces only 13 million tonnes of coal each year, placing it 49th in the world. Russia is Japan’s second-largest supplier of coal.

Furthermore, coal supplies about 32% of Japan’s electricity, making it a critical energy source, at par with liquefied natural gas.

Over the last decade, Japan’s dependence on Russian coal imports has more than doubled. Russian coal is utilized in the Japanese paper industry and accounts for around 13% of Japan’s power generation supplies.

Russia accounted for 15% of Japan’s coal imports in 2020, according to the state-owned JOGMEC (Japan Oil, Gas and Metals National Corp). The official trade figures say that the import price of coal was 2.5 times more than the previous years.

Following Kishida’s sanctions, these Japanese industries are under intense pressure to find alternatives to Russian coal as swiftly as possible.

For instance, Kyushu Electric Power, which serves western Japan, purchased 7% of its coal from Russia in FY20. The company is now facing a hard time and is under tremendous pressure to start looking for replacements, thanks to Kishida’s sanctions.

In addition, papermakers need a lot of Russian coal in their production operations. Pressure is mounting on them to make the transition as well.

Rengo, a Japanese cardboard manufacturer that imports an average of 140,000 tonnes of coal from Russia each year, has been forced to begin exploring other options.

The change will take time

Several European nations have pushed for a similar coal ban during the same period.

Now, here’s a question. If both Europe and Japan are looking for Russian coal substitutes, wouldn’t that tighten the demand-supply balance? Isn’t it also likely to raise utility procurement costs, adding to the pressure on already high energy bills?

Due to increased fuel, material, and shipping costs, Japanese paper companies announced price increases in November. Some in the industry believe that additional money is needed. So, how come the hunt for alternatives would not have an effect on these businesses?

Kishida’s attempts to impress the West are producing more problems in Japan. This has a simple explanation. You can’t simply remove Japan’s dependence on Russia from the equation.

For decades, Japan has relied on Russian coal to keep its economy afloat. And, because it isn’t alone in its search for alternatives, a quick transition isn’t possible. As a result, Japan will face even greater hardships in the future.

Tags: Energy CrisisFumio KishidaJapanrussia ukraine crisisThe United StatesWestern Europe
ShareTweetSend
Previous Post

Singaporean real estate investors are the biggest winner of the China-Australia clash

Next Post

American sanctions on Russia are making China richer and stronger

Also Read

How was BRICS formed and why is it yet to achieve its true potential

How was BRICS formed and why is it yet to achieve its true potential

June 8, 2023
5 things to know about the poorest country in Europe

5 things to know about the poorest country in Europe

June 8, 2023
Confirmed! It was Zelensky’s Sinister Plot to Destroy the Kakhovka Dam

Confirmed! It was Zelensky’s Sinister Plot to Destroy the Kakhovka Dam

June 7, 2023
We Can’t decide who’s more racist: Quebec or Justin Trudeau

We Can’t decide who’s more racist: Quebec or Justin Trudeau

June 7, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Trending
  • Comments
  • Latest
11th July: The date set by Victoria Nuland for WWIII

11th July: The date set by Victoria Nuland for WWIII

May 31, 2023
Its Official: Biden is waving white flag against Iran

Its Official: Biden is waving white flag against Iran

June 2, 2023
A military emergency could soon be imposed in Europe

A military emergency could soon be imposed in Europe

June 2, 2023
Oh Well, Germany is Planning a War with Russia (Psst… to Win Elections at Home)

Oh Well, Germany is Planning a War with Russia (Psst… to Win Elections at Home)

June 1, 2023
Putin’s Odessa Ambitions are About to Come True

Putin’s Odessa Ambitions are About to Come True

June 1, 2023
How was BRICS formed and why is it yet to achieve its true potential

How was BRICS formed and why is it yet to achieve its true potential

June 8, 2023
An Ursula vs Meloni war has broken out and Meloni seems to be winning this one

An Ursula vs Meloni war has broken out and Meloni seems to be winning this one

June 8, 2023
Macron checks NATO’s advance into the Indo Pacific and we just know why he did that

Macron checks NATO’s advance into the Indo Pacific and we just know why he did that

June 8, 2023
5 things to know about the poorest country in Europe

5 things to know about the poorest country in Europe

June 8, 2023
Is the CIA planning to execute Zelensky?

Is the CIA planning to execute Zelensky?

June 8, 2023
Youtube Twitter Facebook
TFIGlobal
  • About us
  • Contact Us
  • Terms of use
  • Privacy Policy

©2023 - TFI MEDIA PRIVATE LIMITED

No Result
View All Result
  • Premium
  • Indo-Pacific
  • Americas
  • Canada
  • Indian Subcontinent
  • West Asia
  • Europe
  • Africa
  • The Caribbean

©2023 - TFI MEDIA PRIVATE LIMITED

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Follow us on Twitter

and never miss an insightful take by the TFIGlobal team

Follow @tfiglobal
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. View our Privacy and Cookie Policy.