Japan imposes sanctions against Japan

On Wednesday, Japanese Prime Minister Fumio Kishida announced sanctions against Russia over its actions in Ukraine, saying Moscow’s moves are unacceptable violation of Ukrainian sovereignty and international law.

Japan’s sanctions include prohibiting the issuance of Russian bonds in Japan and the freezing of assets of certain Russian individuals as well as restricting travel to Japan, said Kishida.

“Russia’s actions very clearly damage Ukraine’s sovereignty and go against international law. We once again criticise these moves and strongly urge Russia to return to diplomatic discussions,” he said. “The situation remains quite tense and we will continue to monitor it closely.”

He went on to add, details of the sanctions will be worked out and announced over the coming days.

“Japan has sufficient reserves of oil and liquefied natural gas (LNG) so that there will not be a significant impact on energy supplies in the short term,” said Kishida.

In the event oil prices rise further he would consider all possible measures to limit the impact on companies and households.

Kishida said Japan would remain in close contact with other G7 nations and the international community.

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

Japanese markets were closed on Wednesday for a national holiday.

Japan’s toughening stance is in contrast with the softer diplomatic approach to Moscow taken by Japanese governments in the past, attempts to secure the return of islands occupied by Russian forces at the end of WW2.

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