Japan’s government has imposed sanctions on members of the Russian leadership and some financial institutions, as well as leaders of Belarus in response to Russia’s invasion of Ukraine, the foreign ministry said on Tuesday.
The sanctions come after Japan’s Prime Minister Fumio Kishida said Monday that Japan will further strengthen its sanctions if the situation in Ukraine deteriorates. This round of sanctions includes the freezing assets of six Russian leaders, including President Vladimir Putin, Foreign Minister Sergey Lavrov, Defense Minister Sergei Shoigu, Chief of General Staff Valery Gerasimov, Security Council’s deputy chairman Dmitry Medvedev, and the council’s secretary Nikolay Patrushev.
The asset freeze will also target three Russian financial institutions, namely Russian state development corporation VEB, Promsvyazbank, and Bank Rossiya. Japan will prohibit exports to 49 Russian entities as part of the sanctions, the ministry said.
Kishida said that Belarus, an ally of Russia, will also be subject to new sanctions. The country has been criticized for allowing Russian troops to use its territory to launch its invasion of Ukraine.
Kishida on Monday imposed sanctions on the Central Bank of Russia and extend $100 million in emergency humanitarian assistance to Ukraine.
Japan relies on Russia for some of its energy needs, with Russia providing more than 12 percent of Japan’s thermal coal in 2021 and almost a tenth of its liquefied natural gas. Kishida said he did not foresee any significant impact on energy supplies in the short term and would take all measures into account to limit such impacts on households and companies should oil prices continue to rise.
Treasury Secretary Janet Yellen said that the United States seeks “to ensure Russia pays a severe economic and diplomatic price for its further invasion of Ukraine” and is “prepared to impose further costs on Russia” if necessary.
