Japan to ban luxury goods exports to Russia next week

TOKYO: Japan will ban the export of luxury goods to Russia early next week, Japanese Foreign Minister Yoshimasa Hayashi said on Friday.

“Early next week we will introduce the export ban measure of luxury goods,” Hayashi said, adding that the bill on legislation in the field of crypto-assets in order to prevent Russia from avoiding sanctions, is in preparation for submission to the parliament. Hayashi said that he considers it necessary to impose sanctions against Russia, like the other members of the G7.

Earlier on Friday, the Japanese Foreign Minister unveiled a new package of sanctions against 25 Russians and 81 organizations from Russia. Japan’s sanctions list now includes 101 names and 130 organizations from Russia.

The Russian Foreign Ministry said on Monday that Moscow, in response to Tokyo’s unfriendly steps, is refusing to negotiate a peace treaty with Japan, is halting visa-free travel for Japanese citizens to the southern Kuril Islands, and is withdrawing from dialogue with Japan on establishing joint economic activities in the southern Kurils.

A series of Western countries have introduced new sanctions against Russia amid the situation in Ukraine. A number of companies have announced their withdrawal from the Russian market and the closure of production facilities in Russia.

As the Kremlin said earlier in the month, the Western sanctions are very serious and Russia was preparing for them in advance. It requires analysis and coordination of agencies to work out the response measures corresponding with Russia’s interests.

Earlier in the month, Russian President Vladimir Putin said that the policy of restraining and weakening Russia is a long-term strategy of the West and sanctions have dealt a serious blow to the entire global economy.

The main goal of the West is to worsen the lives of millions of people. The president also said that the US and the EU have defaulted on their obligations to Russia, freezing its foreign exchange reserves. Current events draw a line under the global dominance of the West in both politics and economics, Putin said. (ANI/Sputnik)