TOKYO, Dec 5 Reuters Japan implemented a price cap on Russian crude oil from Monday, but crude oil imported from the Sakhalin2 plant will be excluded, the government said in a statement.

The decision follows an agreement by the Group of Seven nations and Australia on Friday to limit the price of Russian crude oil at 60 per barrel in the latest move to slap sanctions on Moscow over its war in Ukraine.

The exclusion of crude oil from the far eastern Russian Sakhalin2 project, which Japanese energy operators hold stakes in after the exit of Shell, was decided in light of Japan39;s energy security, the government said in the statement.

Further measures on Russian petroleum products, set to begin on Feb. 5, 2023, will be announced at a later date, the statement added.

Reporting by Kantaro Komiya; Editing by Kim Coghill

Source Reuters