Japan Announces New Export Bans on Industrial Goods to Russia, Bank Sanctions
Japan imposed another wave of sanctions on Russia, laying out an export ban of certain goods used to support industrial infrastructure, the Ministry of Economy, Trade and Industry announced June 10, according to an unofficial translation. The export ban covers wood and wood products, steel storage tanks, hand or processing tools and machines, electrical equipment, trains, bulldozers and trucks. The restrictions will enter into force June 17.
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In addition, Japan announced asset freezes on three Russian and Belarusian banks. The covered entities are the Credit Bank of Moscow, Russian Agricultural Bank and Belinvestbank (Belarusian Bank for Development and Reconstruction). The move follows the EU's action dropping the three banks from SWIFT, the interbank messaging and payment service.