Japan Imposes Additional Sanctions on Russia... Ban on Coal Imports and New Investments

Russia's Largest Bank Asset Freeze, 8 Diplomats Expelled Including Foreign Officials

[Image source=Yonhap News]

[Asia Economy Reporter Ki Ha-young] Japan has decided to gradually reduce imports of Russian coal as an additional sanction against Russia, ultimately banning imports altogether.

On the evening of the 8th, Japanese Prime Minister Fumio Kishida held a press conference at the Prime Minister's Official Residence and announced, "We will impose strong sanctions in solidarity with the international community to stop Russia's aggression."

As suspicions that Russia massacred civilians in Ukraine have increasingly been confirmed, the Group of Seven (G7) leaders issued a statement the day before declaring their intention to reduce dependence on Russian energy by banning coal imports and gradually reducing other imports. Japan, a G7 member, has decided to follow suit with additional sanctions.

Regarding this, Minister of Economy, Trade and Industry Koichi Hagiuda stated, "Energy issues vary by country," and added, "Japan aims to gradually reduce coal imports from Russia while securing alternative supply sources, ultimately aiming to stop imports altogether."

According to trade statistics from the Japanese Ministry of Finance, coal imports from Russia accounted for 11% of Japan's total coal imports last year. Japanese electric power companies and steel manufacturers have long-term contracts of over a year with Russia to import and use coal.

Prime Minister Kishida also announced the freezing of assets of Russia's largest state-owned bank, Sberbank, and the largest private bank, Alfa Bank. Additionally, new investments in Russia will be banned, and asset freezes will be implemented on about 400 Russian military personnel and 20 military-related organizations. Import bans on Russian machinery, certain types of timber, and vodka are also planned to be introduced starting next week.

Kishida criticized, "Russia's brutal and inhumane acts are being revealed not only in Bucha but also across various parts of Ukraine," and said, "Russia has repeatedly violated major international humanitarian laws, including killing civilians and attacking nuclear power plants. These are war crimes that can never be forgiven."

He further stated, "We must hold Russia strictly accountable for its outrageous acts," and expressed Japan's intention to advance its contribution to the International Criminal Court (ICC) to support investigations into the mass killing of civilians.

Meanwhile, the Japanese Ministry of Foreign Affairs announced on the same day that it will expel eight individuals, including diplomats from the Russian Embassy in Japan and staff from the Russian Trade Representation in Japan. As Japan joins the Western countries in expelling Russian diplomats, Russia is expected to retaliate by expelling Japanese diplomats stationed in Russia.

This content was produced with the assistance of AI translation services.