ANNOUNCEMENT 07 Jun 2022

7 June 2022 - The Japanese government announced further sanctions in response to the Russian invasion of Ukraine.

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Japan Ministry of Foreign Affairs, 7 June 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_009390.html

Inception date: 07 Jun 2022 | Removal date: open ended

Controls on commercial transactions and investment instruments

On June 7th 2022, the Japanese Ministry of Foreign Affairs issued a press release announcing an 11th tranche of sanctions undertaken in response to the Russian invasion of Ukraine. Two Russian banks were targeted, with 'capital transactions' to or from them forbidden. These were defined as 'deposit contracts, trust contracts and monetary loan contracts'.

The ban went into effect from 7 June 2022. The following two banks were targeted:

  1. Credit Bank of Moscow
  2. Russian Agricultural Bank (Rosselkhozbank)

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 07 Jun 2022 | Removal date: open ended

Controls on credit operations

In early June 2022, the Ministry of Foreign Affairs of Japan issued a press release announcing it had enacted a ban on 'capital transactions' to and from a Belarusian bank in response to the country's role in supporting the Russian invasion of Ukraine. The ban was to go into effect from June 7 of the same year. The bank targeted was the Belarusian development bank, Belinvestbank (Belarusian Bank for Development and Reconstruction).

According to the press release announcing the measure, it was taken out in order to 'contribute to the international efforts for international peace aiming at solving the crisis'. For more information on other sanctions enacted by the Japanese government in response to the Russian invasion of Ukraine, please refer to the related state acts.

 
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