IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Outflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 26 Feb 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 26 February 2022, the government of Japan required the issuances and transactions of new Russian sovereign debt in the Japanese primary and secondary market to be individually approved, with immediate effect. Press releases from the Japanese Government released prior to the enactment of the sanctions stated that these transactions would be banned. The government also announced it was implementing several economic sanctions on individuals and transactions relating to the two eastern Ukraine areas in question. These measures included asset freezes, payment restrictions and capital transaction restrictions on 24 named individuals and one Russian state bank seen as supporting the actions taken by Russia in these regions.

More specifically, payments to the named individuals and 'capital transactions' will 'require approval' from the date the policy was announced. 'Capital transactions' refer to 'deposit contracts, trust contracts and monetary loan contracts'. The one Russian state bank (Bank Rossiya) also included in the scope of the measures described here, will be subject to the sanctions from March 28th, 2022.

The measures form part of the first sanction package. The package also includes an import and export ban and the suspension of visa issuance (see related interventions). 

With regards to Russia's recognition of the two separatist regions of Ukraine, the press release notes: "Such actions clearly constitute an infringement of Ukraine's sovereignty and territorial integrity and are in violation of international law. They are totally unacceptable and Japan strongly condemns them once again. The Government of Japan strongly urges Russia to return to efforts to resolve the situation through a diplomatic process". 

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

Please report this page in case you detect an inaccuracy in its content.