(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…
DECEMBER 22, 2023 By Junko Suetomi (末冨純子）AND Izumi Matsumoto （松本泉）2 MINS READ On 15 December 2023, the Japanese government announced that it would strengthen sanctions against Russia. Below is an overview of the latest measures: A total of 35 individuals and 44 entities in Russia, Ukraine or the UAE were designated as sanctioned parties in Japan. Making payments to these parties from Japan or by Japanese residents, as well as carrying out certain capital transactions (e.g. making a deposit…
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.