Japan calls new sanctions on Russia, freezes assets of 51 group, 5 individuals for ‘peace efforts’
By Anjali Sharma
WASHINGTON – Japan on Friday announced additional sanctions against Russia, freezing the assets of 51 groups and 14 individuals, in a move to contribute to “international peace efforts” over Ukraine, according to Japan’s foreign ministry.
Under the measures, 47 Russian entities and 9 individuals, along with one group and five individuals from eastern and southern Ukraine, will face asset freezes, the ministry said.
‘”For the purpose of contributing to the international efforts for achieving international peace aimed at a solution of the issue, in line with the measures taken by other major countries, the Japan government has introduced the following measures under the Foreign Exchange and Foreign Trade Act, based on the cabinet understanding “Asset Freeze for individuals and entities of the Russian Federation and other measures”, and the Cabinet Understanding “Measures to the prohibitions on the imports and on the provision of services related to the maritime transportation of the Russian-origin crude oil and oil products traded at prices exceeding the price cap,” as per the statement.
Three entities outside Russia and Belarus are also included. Japan additionally imposed export bans on 11 groups, including organizations based in Russia, China, and Turkey.
“47 entities and 9 individuals of Russia considered to be directly involved in the ‘annexation’ of the Autonomous Republic of Crimea and the City of Sevastopol or the destabilization of Eastern Part of Ukraine, as well as individuals and entities of eastern and southern regions of Ukraine, which are considered to be directly involved in the purported ‘incorporation’ by Russia, and entities of countries other than the Russian Federation and the Republic of Belarus (3 entities) listed in the Ministry of Foreign Affairs Notice,” the statement added.
Tokyo also agreed to lower the price cap on Russian crude imports from USD 60 to USD 47.6 per barrel, though the restriction does not apply to crude produced at Russia’s Sakhalin-2 project. Importers will be required to provide certificates of origin.
“These steps are aimed at ensuring that our country contributes to international peace efforts, including finding a solution to the Ukraine problem,” Chief Cabinet Secretary Yoshimasa Hayashi told a press conference.
The ban on providing services for the maritime transportation, customs clearance, finance, and insurance of Russian oil exported to Japan at a price above the USD 47.6 price cap does not apply to crude produced at the Russian Sakhalin-2 project, the Japanese foreign ministry said.
According to the ministry, this is Japan’s first round of sanctions against Russia since January.
