Japan bans export of trucks & bulldozers to Russia in its latest round of sanctions

As the ravaging war in Eastern Europe continues to escalate unabated, Japan has decided to ban the export of trucks and bulldozers to Russia as part of its new sanction package. The latest anti-Russian sanction package was announced by Koichi Hagiuda, the Japanese Minister of Economy, Trade and Industry. "A ban on deliveries of heavy-duty vehicles, dump trucks, bulldozers and other heavy equipment will be in place from June 17. It is in accordance with the cabinet’s latest decision to prohibit exporting goods to Russia that contribute to the development of industrial infrastructure," he told reporters, the TASS news agency reported. 

According to reports, certain types of timber, spare parts for industrial equipment, steel tanks, steam generators, and gas generators are among the restricted products listed on the Japanese ministry's website. Besides, the Japanese government has also banned the exports of weaving machines, printing equipment, pumping machinery, turbines, charged particle accelerators, industrial robots as well as measuring and testing equipment. There are almost 300 items on the list of commodities and technologies that are not allowed to be exported to Russia. 

Japan also set freeze assets of the Russian banks

In addition, Japan has also imposed personal sanctions targeting Russia's leaders, officials and businessmen. Since the onset of the war in late February, Japan has blacklisted as many as 700 people belonging to Russia, Belarus, the Donetsk People’s Republic (DPR) and the Lugansk People’s Republic (LPR). Starting July 7, Japan will also freeze the assets of the Russian Agricultural Bank, Credits Bank of Moscow as well as Belarusian bank of Development and Reconstruction, TASS reported. 

Russia claims it continues to take steps to combat sanctions 

It is pertinent to mention here that several countries across the world have imposed numerous sanctions against Russia for its unjustified invasion of Ukraine. Meanwhile, the Russian government claimed that it continues to take steps to stabilise the economy and combat the sanctions imposed by Western countries. Addressing a virtual meeting of the Supreme Eurasian Economic Council (EEC) on May 27, Russian President Vladimir Putin stated that his government is acting decisively to ensure the smooth functioning of the market and financial sector. 

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