Japan Firms Worried about Sanctions War over Russian Aggression

Economy

Tokyo, Feb. 26 (Jiji Press)--Japanese companies are increasingly concerned about a possible sanctions war over Russia's military aggression against Ukraine.

Japan and other Group of Seven major industrial nations have announced additional sanctions on Moscow in the wake of Russia's invasion of Ukraine, which started Thursday.

An official of a Japanese securities company said that the G-7 countries are apparently limiting the targets of their sanctions at the moment in order to avoid major impacts on their own economies.

But a potential sanctions war between the Western countries and Russia could have a considerable economic impact, informed sources said.

Financial sanctions by the United States target Sberbank, Russia's largest bank, and many other major financial institutions of Russia. Japan announced a freeze on assets at three Russian banks---VEB, PSB and Bank Russia.

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Jiji Press