Japanese trading house Mitsui & Co said on Friday it had recorded 13.6 billion yen ($92.90 million) as additional provisions on its investment in Russia's Arctic LNG 2 project sanctioned by the United States.

Announcing its third-quarter financial results, Mitsui said it was taking appropriate steps to protect its interests based on the shareholders' and other agreements.

For the nine-month period through Dec. 31, Mitsui reported a 13.6% drop in net profit to 726.4 billion yen, due to lower prices of fossil fuels and steel-making materials such as coking coal.

It lifted its full-year profit forecast through end-March to 950 billion yen from 940 billion yen, compared with the average estimate of 963.5 billion yen in a survey of nine analysts by LSEG.

The Arctic 2 liquefied natural gas (LNG) project is majority-owned and operated by Russia's Novatek while a consortium of Mitsui & Co and Japan Organization for Metals and Energy Security (JOGMEC) hold a combined 10% stake.

Washington in November

imposed sanctions on Arctic LNG 2 that followed separate measures related to the project in September, over Russia's invasion of Ukraine.

($1 = 146.3900 yen) (Reporting by Yuka Obayashi Editing by Chang-Ran Kim)