Society

Japan to ban luxury car exports to Russia

Mar 26 (Japan Today) - Japan is planning to ban exports of luxury cars to Russia as early as next week as part of its expanded sanctions on Moscow over its invasion of Ukraine, government officials said Friday.

Japan has been stepping up pressure against Russia with the United States and European countries as the war in Ukraine drags on despite a global outcry.

Prime Minister Fumio Kishida said at a Group of Seven industrialized nations' meeting on Thursday that more Russian individuals and entities will be added to its sanctions list and that exports of luxury goods will be banned.

The planned export ban is also expected to cover jewelry and artworks, but details of the measure will be decided by considering steps taken by the United States and members of the European Union, according to the officials, who spoke on condition of anonymity.

Japan's fresh export ban is aimed at adding pressure on oligarchs who have been supporting Russian President Vladimir Putin financially.

Cars make up a large portion of Russia-bound shipments from Japan, which totaled 627.8 billion yen ($5.2 billion) in 2020, according to government data.

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