The Japanese government has decided to freeze the assets of Russia’s largest bank, Sberbank, as well as the largest private bank, Alfa-Bank, for Russia’s aggression against Ukraine.
The move will force Japanese companies to look for alternative ways to settle payments in order to continue doing business in Russia.
It is reported by Kyodo News.
Similar measures were introduced earlier in the US and the EU. In addition, Tokyo will ban Japanese individuals and companies from making new investments in Russia. Japan has invested $470 million in Russia in 2021, according to the Japanese Ministry of Finance.
Recall, Japanese Prime Minister Fumio Kishida said on Sunday after an online meeting of G7 leaders that Japan would impose an embargo on imports of Russian crude oil as part of the G7 decision to counter Russia’s invasion of Ukraine.
Meanwhile, the European Union is preparing to cut off more Russian banks from SWIFT. Difficulties with international transfers threaten, in particular, the clients of the largest bank in the aggressor country , Sberbank.
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