Japanese sanctions against Sberbank and Alfa-Bank come into force
A ban for Japanese individuals and legal entities on new investments in Russia also comes into force.
A package of Japanese sanctions against Russia due to the situation around Ukraine, concerning the freezing of the assets of Sberbank and Alfa-Bank, came into force on Thursday.
A ban for Japanese individuals and legal entities on new investments in Russia also comes into force. In particular, it concerns acquiring a stake in any Russian business in the amount of 10% or more. Loans with maturity date over one year away are also subject to a ban.
Japan has invested 61.2 bln yen ($470 mln) in Russia in 2021, according to the Japanese Ministry of Finance. Currently, Japanese companies that continue to operate in Russia face a number of challenges with supply chains and transactional issues.
Russian President Vladimir Putin said in a televised address on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation in order to protect people "who have been suffering from abuse and genocide by the Kiev regime for eight years." The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories, noting that the operation was aimed at the denazification and demilitarization of Ukraine.
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A package of Japanese sanctions against Russia due to the situation around Ukraine, concerning the freezing of the assets of Sberbank and Alfa-Bank, came into force on Thursday.
A ban for Japanese individuals and legal entities on new investments in Russia also comes into force. In particular, it concerns acquiring a stake in any Russian business in the amount of 10% or more. Loans with maturity date over one year away are also subject to a ban.
Japan has invested 61.2 bln yen ($470 mln) in Russia in 2021, according to the Japanese Ministry of Finance. Currently, Japanese companies that continue to operate in Russia face a number of challenges with supply chains and transactional issues.
Russian President Vladimir Putin said in a televised address on February 24 that in response to a request by the heads of the Donbass republics he had made a decision to carry out a special military operation in order to protect people "who have been suffering from abuse and genocide by the Kiev regime for eight years." The Russian leader stressed that Moscow had no plans of occupying Ukrainian territories, noting that the operation was aimed at the denazification and demilitarization of Ukraine.
Source