Japan imposes new sanctions on Russia and Belarus; bans Russian gold imports

In retaliation to Russia’s military aggression against Ukraine, Japan on Tuesday, July 5, extended its sanctions against the Kremlin administration and its closest ally Belarus. Tokyo declared that it will suspend Russian gold imports as well as halt both countries' consultancy and accounting services in an effort to increase support for the war-torn nation, Nexta reported. Further, it is important to note that Japan and its allies have been implementing severe sanctions against Moscow and providing aid to Kyiv ever since Russia invaded Ukraine. 

According to media reports, on June 27, Japanese Prime Minister Fumio Kishida declared that Japan would impose an export embargo on 90 entities that have ties to the military and freeze the assets of an additional 70 Russian individuals and organisations. 

Russia pledged to retaliate Japan's sanctions

Following the assertion of the Japanese sanctions, Russia pledged on the same day, June 27, to retaliate. Russia claimed that the sanctions would have a "negative consequence" on Japan itself. As per the state-affiliated Tass, Mikhail Galuzin, Russia's ambassador to Tokyo, warned that Moscow would take the sanctions into consideration and would respond against them. Galuzin emphasised, "I have told high-ranking Japanese officials that Russia will provide a response to these actions, and, I believe, this response will be serious," as per media reports.   

The Russian ambassador went on to say, "A new package of demonstrative, senseless and doomed to fail sanctions against Russia announced by the Japanese government, shows Tokyo officialdom’s desire to continue dismantling the large-scale positive accomplishments in Russian-Japanese relations,” as per media reports.  

Sanctions on Russia & Belarus

Apart from this, additional sanctions were declared by the Japanese government on two Russian banks and one Belarusian bank earlier on June 7. According to a TASS report, Japan would freeze the assets of the Russian Agricultural Bank, Credits Bank of Moscow, and Belarusian Bank of Development and Reconstruction starting from July 7. Notably, bank transactions as well as payments will be permitted, but only with prior approval from Japanese authorities. 

Further, earlier in the month of June, Tokyo had decided to prohibit the shipment of heavy-duty vehicles, dump trucks, and bulldozers to Russia. Koichi Hagiuda, the Japanese Minister of Economy, Trade, and Industry, made the announcement on the sanctions against Russia. 

Various types of wood, industrial equipment replacement parts, steel tanks, steam generators, along with gas generators are reportedly among the prohibited goods mentioned on the Japanese ministry's website. Japan also prohibited the shipment of weaving machines, printing equipment, pumping gear, turbines, charged particle accelerators, industrial robots, as well as measurement and testing equipment, as per media reports. Notably, the list of goods and technology that cannot be exported to Russia contains over 300 items.