By September 1, 2016 Read More →

Japan trade minister denies Rosneft investment report


Japan’s Trade Minister Hiroshige Seko says reports that Japan was considering investing in Rosneft are untrue. photo by Maksim Blinov.

Nikkei newspaper said Japan considering Rosneft investment

TOKYO, Sept 2 (Reuters) – Trade Minister Hiroshige Seko said on Friday it was not true that Japan was considering investing in Russian state-owned oil giant Rosneft, denying a report by the Nikkei newspaper.

The Nikkei said the Ministry of Economy, Trade and Industry was considering investing as much as 1 trillion yen ($9.7 billion) to buy 10 percent of the company through the government-backed Japan Oil, Gas and Metals National Corp, or Jogmec.

The report came as Prime Minister Shinzo Abe prepared to meet Russian President Vladimir Putin on the sidelines of a business conference in Vladivostok to discuss closer cooperation in such areas as energy and technology.

Seko, the newly appointed minister for economic cooperation with Russia, will accompany Abe on the trip to Vladivostok.

(Reporting by Ami Miyazaki; Writing by Chris Gallagher)

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