Russia-Japan Trade Turnover to Decrease by 30% in 2015

The trade turnover between Russia and Japan will most likely decrease by 30 percent compared to the previous year, according to Russia's Ambassador to Japan.

TOKYO (Sputnik) — Moscow expects the trade turnover with Tokyo will decrease by 30 percent in 2015, Russian Ambassador to Japan Evgeny Afanasiev said Tuesday.

"This year, the trade turnover between our countries has decreased. Although we do not have any precise data yet, we expect a 30-percent decrease compared to the previous year," the ambassador said at Japan National Press Club in Tokyo.

Afanasiev said Russian oil exports to Japan had increased by 10 percent but the total value of oil exports were less than in 2014 due to lower oil prices.

In October, Afanasiev said that despite a reduction in mutual trade turnover, as compared to a record level of $35 billion in 2013-2014, Japanese investors maintained strong interest in Russia.

In 2014, Japan announced support for certain Western economic sanctions against Russia imposed over an alleged interference in the armed conflict in eastern Ukraine. Tokyo restricted the operations of several Russian banks and suspended work on several bilateral agreements.