Author

Junko Suetomi

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On October 1, 2017, an order from the Japanese Cabinet went into effect to implement amendments to Japan’s Foreign Exchange and Foreign Trade Act (“Act”), which implements Japanese import and export controls.  The Cabinet order was decided on July 11, 2017 and it also made relevant adjustments in the relevant regulations.  The cabinet order, the ministerial ordinance and the ministry’s notice, which are necessary to implement the amended Act, were promulgated on July 14, 2017. These regulations provide definition of terms in the amended Act as well as clerical and procedural measures for the implementation of the amended Act.

On 28 July 2014, Japan announced a new wave of sanctions, targeting Russian individuals and entities involved in the annexation of Crimea. Assets held by such persons in Japan are expected to be frozen. Chief Cabinet Secretary Yoshihide Suga also announced that Japan will cease funding future public-sector projects in Russia – this follows the European Council’s recommendation for the European Investment Bank and European Bank for Reconstruction and Development to similarly restrict such financing…