Japan to Ban Exports of Luxury Items to Russia
Tokyo, March 29 (Jiji Press)--The Japanese government formalized plans on Tuesday to revise an ordinance to ban exports of luxury cars, jewelry and other luxury items to Russia starting April 5.
The government will revise the foreign exchange law's export trade control ordinance to implement the ban as additional economic sanctions on Russia over its invasion of Ukraine.
The ban comes in line with similar actions taken by the United States and European nations. The measure is targeted at oligarchs, rich Russian individuals who support President Vladimir Putin.
"While continuing to closely monitor the situation in Ukraine, Japan will cooperate with the international community including Group of Seven partners to impose strict sanctions" on Russia, trade minister Koichi Hagiuda told a news conference.
[Copyright The Jiji Press, Ltd.]