Japan to freeze assets of Russian businessmen — Analysis

Japan’s Finance Minister Shunichi Suzuki announced on Thursday that Tokyo will freeze the assets of four additional Russian banks from April 2, raising to seven the total number of financial institutions slapped with sanctions.

According to Ministry of Finance: The Cabinet of Prime Ministers accepted the decision by the Ministry of Finance to suspend the assets of VTB Bank (Vietnam Bank), Sovcombank, Novikombank or Otkritie. According to the Ministry of Finance, this move will take effect on April 2.

This is consistent with EU’s decision to remove seven Russian banks form the SWIFT financial messaging network as a reprisal against Russia’s military attack against Ukraine.

Japanese airlines cancel all flights to and from Europe

“Japan supports the EU’s decision and will firmly implement sanctions with other Group of Seven members,”Suzuki made the statement in a briefing to journalists on the subject.

According to Japanese reports, the Japanese government decided that Thursday it would freeze assets of eighteen Russian officials as well as seven top-ranking Belarusian officials. Tokyo has banned Belarusian exports.

Russia invaded Ukraine militarily last Thursday. Russia claimed that it was trying to stop Ukrainian armies from attacking separatist regions like Donetsk/Lugansk. “denazify” the country to ensure Russia’s own security.

Russia’s unprovoked aggression was condemned by the West and Kiev. In retaliation, Western sanctions were imposed on Moscow. They are designed to severely impact Russia’s economy. The UN passed a resolution condemning Russian actions and requesting that it withdraw its troops immediately.

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