ANNOUNCEMENT 11 Mar 2022

11 March 2022 - The Japanese government announced a new round of economic sanction measures that targeted Belarusian entities related to the invasion of Ukraine.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Japan Ministry of Foreign Affairs (MOFA), 11th March 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)
https://www.mofa.go.jp/mofaj/press/release/press4_009301.html

Inception date: 10 Apr 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On 11 March 2022, the Japanese Japan Ministry of Foreign Affairs (MOFA) announced a fifth round of economic sanctions relating to the Russian invasion of Ukraine. This batch targeted organisations and individuals in Belarus.

The announcement stated that from 10 April 2022, an 'asset freeze' would be in place on three Belarusian banks:

  1. Belagroprombank;
  2. Bank Dabrabyt;
  3. Development Bank of the Republic of Belarus.

As with previous sanctions (see related state acts), the 'asset freeze' is explained in the MOFA announcement as sending and/or receipt of payments to/from the banks in question will be 'subject to approval'. This also applies to 'capital transactions (deposit contracts, trust contracts and monetary loan contracts)'. 'Subject to approval' is equivalent to a ban on the aforementioned actions, and was reported as such consistently in both media outlets and press releases from the Japanese government.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
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