Japan is unsure whether the price cap for Russian oil will be efficient, but believes the measure will reduce Russian revenue from oil exports, Japan's Chief Cabinet Secretary Hirokazu Matsuno said a news conference on Monday.
"The introduction of the price cap for Russian oil is designed to reduce Russian revenues and ensure the stability of the oil market," he said. "I can’t talk with certainty about the effectiveness of this measure. However, I believe that it will reduce the price of Russian oil, even when it comes to those countries that haven’t joined the current steps, and this will limit Russia's revenues from energy exports."
