Japan tightens sanctions on Russia, targets banks and exports
Japan has announced new sanctions against 11 individuals, 3 banks, and 29 companies from Russia. The sanctions also encompass export restrictions for 22 Russian organisations and 335 products. These measures are scheduled to be implemented on 23rd January.
Japan's sanctions target three Russian banks, 29 companies, and 11 individuals. According to "Kommersant," Tokyo also imposes export restrictions on 22 Russian organisations and 335 products. The sanctions will take effect on 23rd January.
A blow to the banking sector
In response to rising geopolitical tensions, Japan has announced sanctions that include Russian banks such as Sberbank and Alfa Bank, freezing their assets. These actions aim to align with widespread international pressure related to the situation in Ukraine.
The goods covered by the sanctions include parts for specialised machinery, various tools, and small motorcycles. The sanctions target banks such as: CMRBank, RFK Bank, and Timer Bank. Restrictions also apply to the CEO of "Alrosa," Pavel Marynichev, the First Deputy CEO of "Rostec," Vladimir Artyakov, and the head of "PSV Technologies," Sergey Petrov.
Under the sanctions, Japan also restricts investment opportunities for its citizens and companies in Russia. This move addresses Russia's actions in Ukraine and historical territorial disputes, such as the one concerning the Kuril Islands, which have been contentious between the two countries for decades.
Additionally, as part of anti-Russian actions, Japanese sanctions will cover one North Korean citizen, 31 companies from China, Kazakhstan, Kyrgyzstan, the United Arab Emirates, Thailand, and Turkey, and one financial institution from Georgia (MRB Bank). In November, "Kommersant" reported that trade between Russia and Japan fell by 15.9%, reaching approximately £530 million.
Isolation of Russia
These events are part of global efforts to exert pressure on Russia, conducted not only by Western countries but also by nations such as New Zealand and Australia. The isolation of Russia on the international stage is becoming increasingly apparent, significantly impacting its economy and international political potential.
Besides financial sanctions, Japan has also proposed other forms of support for Ukraine. These include both humanitarian financial assistance and non-lethal military support, highlighting its readiness to act on the international stage in response to growing threats from Russia.
