Japan joins sanctions against Russian central bank, says ‘Japan is with Ukraine’ By Reuters

© . FILE PHOTO: Japan’s Deputy Finance Minister for International Affairs, Masato Kanda, poses for a photo during a interview at the Ministry of Finance in Tokyo, Japan, Jan. 31, 2022. REUTERS/Issei Kato By Tetsushi Kajimoto and Kantaro Komiya TOKYO ( Japan will join international sanctions against Russia’s central bank by restricting transactions with it, Prime Minister Fumio Kishida said Monday after telling Ukrainian President Volodymyr Zelenskiy that Japan would be on his side. Speaking to reporters after phone calls with Zelenskiy, Kishida also said Japan would impose sanctions on Belarusian organizations and individuals, including President Alexander Lukashenko, and limit exports there, given the country’s “clear involvement in the invasion.” from Ukraine. “I told (President Zelenskiy) that Japan is with Ukraine … and strongly supported Ukraine’s sovereignty and territorial integrity,” Kishida said. Japan joins the West in trying to limit the Russian central bank’s ability to stake $640 billion in forex and gold reserves, and to take the major Russian banks out of the SWIFT financial network, leaving it for lenders and businesses become difficult to make and receive payments. Earlier, Japan’s top diplomat Masato Kanda said the government is working closely with other G7 countries to ensure effective economic sanctions against Russia and its central bank. He spoke after meeting colleagues at the Bank of Japan and the Financial Services Agency to discuss the fallout from the crisis in Ukraine — the first such meeting in about a year. Japanese stocks fell and the yen strengthened as a safe-haven currency on Monday after western countries imposed the new sanctions on Russia. “Market stability is extremely important,” said Kanda, Japan’s deputy finance minister for international affairs, adding that the government was closely monitoring market developments. The ruble fell nearly 30% on Monday to an all-time low against the dollar. The stock exchange and the derivatives market remained closed. Kishida said Japan, which has pledged $100 million in emergency humanitarian aid to Ukraine, will also allow Japanese-based Ukrainians to extend their stay amid the conflict. Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media assumes no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts, and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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