Japan freezes assets of Russia's Sberbank, Alfa Bank over Ukraine

Politics Economy

The Japanese government on Thursday froze assets of Russia's largest financial institution, Sberbank, and its largest private bank, Alfa Bank, as Japan ramps up pressure against Moscow's Ukraine invasion. In line with the United States and European countries, the measure will force Japanese companies to seek alternative ways to settle payments to continue business in Russia. Additionally, Tokyo will prohibit Japanese individuals and companies from making new investments in Russia that would give them a stake of 10 percent or more. Loans with a term to repayment exceeding one year are also subj...

Kyodo News

Kyodo News