Japan imposes sanctions against Russia due to the actions of Russia in Ukraine

Japan imposes sanctions against Russia due to the actions of Russia in Ukraine. 

TOKYO: Japan is imposing sanctions against Russia due to its actions within Ukraine. Premier Fumio Kishida announced on Wednesday, calling Russia’s actions a blatant breach of Ukrainian sovereignty and international law.

Western countries on Tuesday imposed fresh sanctions on Russian elites and banks following Moscow placed troops in the separatist areas of eastern Ukraine. 

Japan’s sanctions prohibit the release of Russian bonds in Japan and block the accounts of specific Russian individuals and limit the travel of Russians into Japan, Kishida said.

“Russia’s actions very clearly damage Ukraine’s sovereignty and go against international law. Therefore, we once again criticize these moves and strongly urge Russia to return to diplomatic discussions,” the president said.

“The situation remains quite tense, and we will continue to monitor it closely.”

He explained the specifics regarding the sanction will be sorted out and made public in the next few days.

Japan has ample reserves of oil and liquefied natural gases (LNG), which means there won’t be a significant impact on the energy supply shortly, Kishida said.

If oil prices continue to rise, the minister said he would be open to all options to minimize the impact on households and businesses.

Kishida declared that Japan would continue to be in constant communication with the other G7 nations and the international community.

“Should the situation worsen, we’ll move quickly to take further action,” said the official. 

Japanese marketplaces were shut on Wednesday due to an official holiday.

Japan’s more uncompromising stance contrasts the more diplomatic approach towards Moscow adopted by Japanese governments in the past and attempts to ensure the return of the islands held by Russian forces following the conclusion in World War Two.

Japan’s relationships with Moscow are also affected by the dependence of Russia on its energy needs. As of 2021, Russia was the leading supplier of more than one percent of Japan’s thermal coal and nearly 10 percent of its LNG.