Japan imposes new sanctions against Russia – media

The Japanese government decided on Wednesday to impose additional sanctions against Russia in connection with the situation in Ukraine, Japanese news agency Jiji has reported, citing a statement by Chief Cabinet Secretary Yoshihide Suga.

"Japan never overlooks an attempt to change the status quo through force," he said.

In particular, Tokyo will tighten restrictions on arms exports to Russia.

In addition, the sanctions will affect the circulation of the securities of five Russian banks, although these banks were not named by the agency.

If Russia takes vigorous and clear actions for peaceful settling of the crisis in Ukraine, Japan is ready to revise or cancel the latest measures imposed on Russia, Suga said.

"Japan together with the member states of the G7 intends to continue making an effort to settle peace in Ukraine and is seeking a diplomatic solution to the crisis," he said.

The list of Russian banks on which the sectoral sanctions are imposed is identical to the list of the United States and the EU – Sberbank of Russia, VTB, VEB, Rosselkhozbank and Gazprombank.

According to the statement of the Foreign Ministry of Japan, the new Japanese sanctions are imposed on Russian securities which maturity exceeds 90 days.

"VEB regrets and is disappointed with the decision made by Japan with which the bank has long-term partnership relations. Of course, sanctions bring a certain negative reputation effect, but from the point of view of practical consequences they will not considerably affect the realization of projects, the operation of the bank, or relations with key partners and clients," VEB said on Wednesday.

Other banks did not comment on the sanctions.

In March, Tokyo suspended talks with Moscow over visa restrictions due to the situation around Ukraine. In addition, the country also decided to freeze talks with Russia on investment, space cooperation and military tension prevention.

On April 29, 2014, Japanese authorities approved additional sanctions against Russia foreseeing the visa ban for 23 Russian citizens.

In early August the Japanese government following the United State and the EU approved more sanctions against Russia. It targeted 40 individuals from Russia and Ukraine with asset freezes and travel bans. The list included two Crimean companies – Chornomornaftogaz and Feodosia.