The Japanese government announced in a statement that Japan has expanded its sanctions list against Russia and will impose sanctions on 11 individuals, 29 organisations and 3 banks in Russia.
Japan’s measures against financial institutions will take effect on 9 February. The sanctions also include a North Korean individual and a Georgian bank for the purpose of freezing Russian assets due to the war in Ukraine.
In addition, the Japanese government announced that it has decided to ban exports to a further 53 organisations, including 22 Russian and 18 Chinese, starting this month to ‘prevent exported products from being used to strengthen Russia’s industrial base’.
In March 2022, Japan froze the Bank of Russia’s funds in the Bank of Japan, estimated at $33 billion at the time. The funds represented 6 per cent of Russia’s total international reserves, which at the time amounted to about 4 trillion yen.
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