Japan slaps sanctions on Russia following West due to Ukraine Crisis

Tokyo declares sanctions on Russia.

Japan slaps sanctions on Russia. On Wednesday, Japanese Prime Minister, Fumio Kishida says that Tokyo is imposing sanctions on Russia. Further, it adds that Moscow’s aggressive actions against Kyiv and it’s borders are not acceptable. Also that Moscow’s actions not only violate sovereignty of Ukraine but also the international laws at function.

On Tuesday, Western nations impose sanctions on Russia for its actions causing Ukrainian crisis. Especially, after ordering troops to borders and identifying two separatist states of Ukraine as independent.

Moreover, Japan urges Moscow to take route to diplomatic discussions.

In past, the relationship between Moscow and Tokyo is due to latter’s dependence for energy on the former. For instance, in 2021, Russia was the source of Japan’s 12% thermal energy and nearly tenth of its LNG.

What will be the implications as Japan slaps sanctions on Russia?

  • Japan is prohibiting the issuance against Russian Bonds in Japan.
  • They are freezing the assets of certain Russian individuals in Japan.
  • Moreover, now, there is a strict restriction in travel to Russia.
  • Further details are still to be laid out and Tokyo will do so soon.
  • They add that Japan has sufficient reserves of liquified natural gas (LNG) and oil. Although, should the prices of oil rise globally, they will take measures to prevent an inadvertent affect on Japanese households and firms.

Japan is expecting to keep a close collaboration with G7 nations. It’s constantly monitoring the situation in Ukraine crisis. There will be further notifications on requirement if the situation alters.

 

 

 

 




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