Japan will impose sanctions on Russia targeting semiconductor exports and financial institutions, Prime Minister Fumio Kishida said on Friday as G7 leaders agreed to financially punish Moscow for attacking Ukraine.
The announcement came after Russian President Vladimir Putin on Thursday carried out a full-scale ground offensive and airstrikes along with deadly fighting on the outskirts of Kiev.
Kishida said the world’s third-largest economy plans to “target Russian financial institutions” along with an “asset freeze and suspension of visa issuance for Russian individuals and organizations”.
“Third, we will allow exports to Russian military-related organizations, and exports to Russia of general purpose goods such as semiconductors and commodities on the restricted list based on international agreements,” he told reporters.
Kishida did not provide details on the scale of the sanctions or which individuals and institutions would be targeted.
Semiconductors are essential components in products ranging from cars to gaming consoles, and are in short supply around the world.
The United States has also announced export controls on sensitive components that US President Joe Biden said would “cut off more than half of Russia’s high-tech imports”.
Japan, a key US ally and member of the Group of Seven, held virtual talks overnight and agreed to “move on disastrous packages of sanctions and other economic measures to keep Russia in mind”, Biden said.
Tokyo on Wednesday announced the issuance of Russian government bonds and a ban on trade in Japan after Moscow ordered troops into two separatist-controlled Ukrainian territories.
This story has been published without modification in text from a wire agency feed. Only the title has been changed.
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