Japan Announces Plan to Revoke Russia's Most Favored Status
Tokyo, March 16 (Jiji Press)--Japanese Prime Minister Fumio Kishida unveiled on Wednesday plans to deprive Russia of the most-favored-nation status in response to its invasion of Ukraine.
By revoking the status to slap higher tariffs on Russian imports, Japan aims to keep in line with other Group of Seven member nations and the international community.
In addition, Kishida told a press conference that Japan will ban imports of some goods from the northern neighboring country.
The government is now selecting items to be barred from the Japanese market.
But natural liquefied gas, Russia's mainstay exporting product, is expected to be excluded from the import ban list for the sake of stable energy supplies in Japan.
[Copyright The Jiji Press, Ltd.]