As Russia continues to wage war on Ukraine, Japan has formally revoked Russia’s status as a ‘very close country’. Tokyo has imposed new sanctions on the Russian military over its atrocities against civilians.
The removal of Russia’s trade status is Japan’s latest sanctions against Moscow. The new sanctions are part of a series of sanctions announced by Prime Minister Fumio Kishida last month. This includes the decision to expel eight Russian ambassadors and business officials. The resolution of the Japanese parliament is expected to increase pressure on Russia over its trade status. Japan joins the list, with several countries imposing sanctions on Russia individually and collectively. But the move will also provoke Moscow’s anger.
Read more | Shocking scenes of the impact of the Ukraine war
Freezing of assets of Russians
Japan has also frozen the assets of hundreds of Russian individuals and groups. It also banned new investment and trade, including the export of goods that could be used for military purposes. Japan has also announced plans to phase out Russia’s coal imports.
Exodus of Russian ambassadors
Eight Russian ambassadors expelled from Japan could be seen boarding a bus from the Russian embassy in Tokyo to Haneda International Airport, where they boarded a Russian government plane back home. Japan has already incurred the wrath of Russia. Moscow recently announced that it was suspending talks on a peace deal with Tokyo, including talks on the Russian-occupied islands occupied by the former Soviet Union from Japan at the end of World War II.
Amendment to the Foreign Exchange Act
The parliamentary resolution also includes an amendment to the Foreign Exchange Act to prevent those subject to asset freezing from exchanging the virtual currency they hold. It is noteworthy that Japan is playing a key role in international efforts against Russia due to concerns about the impact of the war on East Asian countries.
Read more | Will the Ukraine crisis affect India-Russia relations?
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