Japan freezes Russia’s wealth assets

Japan freezes Russia’s wealth assets

Japan joined the US and other allies to put additional sanctions on Russia, including freezing Russia’s central bank, assets of the country’s leaders and three financial institutions.

Japan will also prohibit exports to 49 Russian entities as part of the sanctions, the government said in a statement.

“We’ve agreed on the need to take powerful sanctions against Russia,” Prime Minister Fumio Kishida said on Tuesday after an online meeting with Western leaders including U.S. President Joe Biden.

Russia held $585.3 billion worth of foreign reserves as of June 2021. 5.7% in Japanese yen, according to data by the country’s central bank.

On Monday the USA imposed sanctions on Russia’s central bank and other wealth sources.

On the other hand, China did not respond well to Japan’s influential former prime minister, Shinzo Abe for Tokyo to consider hosting US nuclear weapons in the wake of Russia’s invasion of Ukraine, rising concern over Chinese aggression towards Taiwan.