Japan to Watch Impact of Possible Expulsion of Russia from SWIFT

Politics

Tokyo, Feb. 27 (Jiji Press)--Japan's Foreign Minister Yoshimasa Hayashi on Sunday expressed the country's intention to pay close attention to possible financial market impacts from an envisaged expulsion of some Russian banks from a global interbank network.

"Japan needs to respond while closely watching impacts on financial markets" of the measure, which has been proposed by the United States and others as a fresh sanction on Russia over its invasion of Ukraine, Hayashi said in a television program.

In a joint statement released Saturday, Britain, Canada, France, Germany, Italy, the United States and the European Union proposed that some Russian banks be removed from the Society for Worldwide Interbank Financial Telecommunication, or SWIFT, condemning Russian President Vladimir Putin's "war of choice and attacks" on Ukraine and its people.

On whether Japan will add Putin and Belarus, which is believed to be supporting Russia's invasion of Ukraine, to its sanctions list, Hayashi said only," We will consider what steps we can take while working with Japan's Group of Seven partners." Japan is the only G-7 member not participating in the joint statement proposing the additional sanction on Russia.

On an incident in which a freighter owned by a Japanese company was hit by a Russian missile in the Black Sea, Hayashi said that the Japanese government urged Russia through diplomatic channels to ensure the safety of Japanese ships and citizens.

[Copyright The Jiji Press, Ltd.]

Jiji Press