(Japanese follows English) On January 10, 2025, the Japanese government announced further sanctions against the Russian Federation under the Foreign Exchange and Foreign Trade Act, in line with measures taken by other major countries. The additional measures imposed based on the Cabinet Understanding of “Asset freezes for individuals and entities of the Russian Federation and other measures as of January 10, 2025” are as follows: Measures 1. and 2. will come into effect for individuals…
On 19 December 2022, South Korea’s Ministry of Foreign Affairs (“MOFA”) announced new unilateral sanctions against Russian entities and individuals apparently involved in illegal military cooperation with North Korea in violation of UN Security Council resolutions. The sanctions target the illegal procurement of funds and materials for North Korea’s weapons programs. MOFA stated that the designations include Russian companies such as LLC Verus for its involvement in arms brokering between Russia and North Korea, Parsek…
On 10 July 2024, Osaka Prefectural Police arrested the representative director of a trading company on suspicion of violating the Foreign Exchange and Foreign Trade Law for illegally exporting without government approval export-controlled items that are subject to sanctions against Russia (“Case”). This is the first arrest in Japan involving unauthorized exports to Russia after the invasion of Ukraine. In this alert, we provide an overview of Japan’s sanctions against Russia, the Japanese government’s response…
On 21 June 2024, the Japanese government announced further sanctions against the Russian Federation under the Foreign Exchange and Foreign Trade Act in line with measures taken by other major countries. This measure adds to the sanctions imposed in the previous round of sanctions announced on 24 May 2024. The new sanctions were taken based on the Cabinet Understanding entitled, “Asset freezes for individuals and entities of the Russian Federation and other measures as of…