ANNOUNCEMENT 24 Feb 2022

In February 2022, Japan extended sanctions against Russia and the two Ukrainian separatist regions in the context of the Russia-Ukraine crisis.

NUMBER OF INTERVENTIONS

3

  • 3 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Ministry of Foreign Affairs of Japan. Press release. "Sanction Measures following Russia's Recognition of the “Independence” of the “Donetsk People’s Republic” and the “Luhansk People's Republic” and the ratification of treaties with the two “Republics” (Statement by Foreign Minister HAYASHI Yoshimasa)". 24/02/2022. Available at: https://www.mofa.go.jp/press/release/press4e_003085.html

Prime Minister's Office of Japan. "ウクライナ情勢を踏まえた制裁措置等についての会見" translated to "Press conference on sanctions based on the situation in Ukraine". 23/02/2022. Available at: https://www.kantei.go.jp/jp/101_kishida/statement/2022/0223kaiken.html

Japanese Ministry of Foreign Affairs, February 26th, 2022. "ウクライナ情勢に関する外国為替及び外国貿易法に基づく措置について" (Measures under the Foreign Exchange and Foreign Trade Act regarding the situation in Ukraine)
https://www.mofa.go.jp/mofaj/press/release/press1_000744.html

Japan Ministry of Finance, February 26th, 2022. "ウクライナ情勢に関する外国為替及び外国貿易法に基づく措置について" (Measures under the Foreign Exchange and Foreign Trade Act regarding the situation in Ukraine)
https://www.mof.go.jp/policy/international_policy/gaitame_kawase/gaitame/economic_sanctions/gaitamehou_shisantouketsu_20220226.html

Inception date: 24 Feb 2022 | Removal date: open ended

Import ban

On 26 February 2022, the government of Japan imposed a blanket import ban on the "Donetsk People's Republic" and the "Luhansk People's Republic", the two separatist regions of Ukraine that were previously recognised by Russia as independent entities. 

The import ban forms part of the first sanction package. The package also includes the suspension of visa issuance, the freezing of assets held in Japan by the two regions' officials, and the prohibition to trade new sovereign debt issued by the Russian government (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 SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 24 Feb 2022 | Removal date: open ended

Export ban

On 26 February 2022, the government of Japan imposed a blanket export ban on products destined to the "Donetsk People's Republic" and the "Luhansk People's Republic", the two separatist regions of Ukraine that were previously recognised by Russia as independent entities. 

The export ban forms part of the first sanction package. The package also includes an import ban, the suspension of visa issuance, the freezing of assets held in Japan by the two regions' officials, and the prohibition to trade new sovereign debt issued by the Russian government (see related intervention). 

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". 

 
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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". 

 
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