Tokyo — The Japanese government has approved ban on exportation for luxury cars, among a list of other Japanese products, into Russia citing sanctions against the country. These economic sanctions come in a long list of worldwide limits placed on the nation after it began its military invasion in Ukraine only a number of days ago.
This interdict, put in place by Prime Minister Fumio Kishida, will begin on April fifth and will bar the exportation of other luxury products, namely art and jewelry.
The sanctions are focused on luxury goods as they’re meant to pressure Russian oligarchs into ending their support for the war and the Putin government. Japanese economic minister, Koichi Hagiuda, told reporters “We will work with the international community, including the Group of Seven nations, to implement tough sanctions.”
In 2020 an estimated 5 billion USD was exported into Russia via auto-vehicles. Now, there will be none moving through.
Sanctions have been implemented from across the world. The European Union, America, Canada, Australia, and now Japan have made the list of countries boycotting the Eurasian country for its war efforts in its western neighbor. Of these economic limits come freezes and seizures of Russian assets, barring companies from working in the country, and export bans.
Japan will also not be taking Russia into priority when it comes to future trade relations.
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