Japan's lower house OKs bills to strip Russia of favored trade status

Politics Economy

Japan's lower house on Thursday passed bills that will strip Russia of its "most-favored nation" trade status and prevent it from transacting in cryptocurrencies, clearing the way for the legislative revisions for tougher sanctions by the end of the current parliamentary session in June. The bill to revise a customs law, approved by a majority vote in the House of Representatives, will raise the tariff rates on imports from Russia to the levels applied before the preferential treatment. For example, the tariff on salmon imports will rise from the current 3.5 percent to 5 percent, while that on...

Kyodo News

Kyodo News