Japan’s increasing reliance on Russian energy has put Tokyo in a difficult position in the dispute over Ukraine and Crimea, with the latest developments gaining close scrutiny from an energy industry that has been disrupted by sanctions on its suppliers in the past. “Japan’s crude imports from Russia have risen sharply in recent years,” noted Petroleum Association of Japan Chairman Yasushi Kimura at his monthly news conference Monday. “While there hasn’t been any impact so far, we’ve been watching developments carefully,” said Mr. Kimura, who is also chairman of JX Holdings Inc., the country’s biggest oil refiner by capacity. Japan imports about 250,000 barrels a day, or 7% of its crude supply, from Russia. Industry minister Toshimitsu Motegi has noted that Russia is a major energy supplier for Japan and has also said he has been watching developments carefully. Russian President Vladimir Putin formally annexed Crimea on Friday. In […]