MOL asks Japan for help amid EU sanctions against Russian LNG vessels

The company has appealed to the Japanese government for help after the EU imposed sanctions on three of its tankers carrying Russian LNG.

This is reported by Bloomberg.

The CEO of the company, one of the world’s leading operators of LNG vessels, Takeshi Hashimoto, said that Mitsui OSK is dissatisfied with the EU’s decision and is currently trying to influence the situation, including through diplomatic channels and with the mediation of the Japanese government.

Three Mitsui OSK vessels — North Moon, North Ocean and North Light — were hit by EU sanctions under the 17th package, which were used to transport LNG from the Russian Yamal LNG project. According to Hashimoto, some of them have already been loaded, and the company plans to complete unloading as soon as possible. He also expressed surprise that although the Yamal LNG project was previously exempt from sanctions, some vessels are now subject to restrictions.

In addition to gas transportation, Mitsui OSK is engaged in international transportation of cars and other cargo. The company said that demand for transportation increased significantly in the first quarter of 2025, in part due to expectations of tariffs in the United States. Demand increased again in May as trade tensions eased. However, Mitsui OSK expects car exports from Japan to North America to gradually decline, due to the increasing localization of production in the United States itself. Hashimoto stressed that the company needs to rethink its approach and gradually abandon its focus exclusively on Japanese production flows.