Japan imposed a new package of sanctions against the Russian Federation. One hundred thirty-five companies and individuals came under restrictions.
What is known about the new package of sanctions from Japan
Japan extended sanctions against 57 Russian and 27 Belarusian companies, as well as against several legal entities from the UAE, Armenia, Syria and Uzbekistan.
The Russian organizations under sanctions are "The Young Army", the private military company "Patriot", and the Ural Civil Aviation Plant.
In addition, Russian Deputy Defense Minister Tatiana Shevtsova, human rights commissioner Tatiana Moskalkova, Moscow Region Children's Ombudsman Ksenia Mishonova and head of the Ground Staff of the Russian Armed Forces Oleksandr Lapin were also sanctioned.
Japan has frozen the assets of 19 individuals and 43 organizations directly involved in the "invasion of Ukraine or destabilization of eastern Ukraine."
Japanese sanctions slowed the trade of used cars from the Russian Federation
Japan's ban on exporting most used cars to the Russian Federation has curbed trade worth about $2 billion a year, which flourished in the shadow of sanctions against Moscow.
After the start of the full-scale invasion of Russia into Ukraine, demand in the Russian Federation for used cars from Japan jumped sharply after global car manufacturers ceased their activities in the country.
Last year, against increased sanctions, the Russian Federation bought more than a quarter of Japanese exports of used cars at an average price of almost $8,200. In 2020, the Russian Federation accounted for about 15% of Japanese exports of used vehicles.
According to data from the Russian analytical agency "Avtostat", more than half of the 303,000 used cars imported by Russia in the first eight months of this year came from Japan.
However, in early August, the Japanese government banned the export of cars to the Russian Federation, closing the profitable channel of trade in used Toyota, Honda and Nissan for a network of brokers and smaller ports, especially for Fusiki, an export hub on the shores of the Sea of Japan.
The SV Alliance company, which exports used cars to the Russian Federation, notes that business has fallen by about 70%.
