Japan to freeze assets of 4 more Russian banks in line with moves by EU
Published: Mar 03, 2022 05:50 PM
Japan will freeze assets held by four more Russian banks in another round of sanctions in response to Russia's military operations in Ukraine, Finance Minister Shunichi Suzuki said Thursday.

Japan's latest round of sanctions followed the announcement by members of the European Union (EU) on Wednesday to exclude seven Russian banks from the SWIFT messaging system, the main system underpinning global financial transactions.

In a statement, SWIFT said that it would disconnect the seven Russian banks from its network on March 12, as per EU regulations.

"Japan supports the EU's decision and will firmly implement sanctions with other Group of Seven members," Suzuki told a press briefing on the matter.

In addition, the Japanese government on Thursday froze the assets of 18 additional Russian officials and seven high-ranking Belarusian officials, along with two Belarusian organizations, informed sources here confirmed.

The Japanese government is also considering slapping more stringent sanctions on Belarus pertaining to export control measures, the statement said.

Japan has already imposed a barrage of sanctions on Russia. Moscow has vowed to retaliate with its own economic repercussions on those countries imposing sanctions on Russia.

According to the Japanese Finance Ministry, its move to restrict Russia from SWIFT will come into effect on April 2.