USD 80.5268

-0.16

EUR 93.3684

-1.09

Brent 66.42

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Natural gas 2.801

-0.01

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Japan, China Failed To Reach Accord on Exploration Rights

"This is an issue that can only be solved by a significant political decision, rather than both sides inching toward concessions"

Japan, China Failed To Reach Accord on Exploration Rights

Japan and China have not agreed yet on their longstanding dispute over gas exploration rights in the East China Sea, Japanese Foreign Minister Masahiko Komura said Tuesday.

"Unfortunately there has been no progress. This is an issue that can only be solved by a significant political decision, rather than both sides inching toward concessions," Komura told reporters.

China is piping gas from an area close to what Japan sees as its own economic zone, sparking fears in Tokyo that Beijing could be siphoning resources from geological structures that stretch into the Japanese zone.

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