Japan to increase prohibition of car exports to Russia

foreignbrief.com -- Aug 06

Japan will increase the prohibition of vehicle exports to Russia to include new and used vehicles over 1900cc as well as hybrid and electric vehicles.

The sanctions aim to close a loophole after figures showed the value of sanctions-exempt Japanese second-hand car exports to Russia surged last year to $204 million—the highest in a decade. Japanese cars are popular in Russia—of the $4.2 billion worth of Tokyo’s exports to Russia last year, half of that comprised vehicle exports. However, it was apparent that the Russian industry was bypassing existing G7 vehicle export prohibitions through the Japanese used vehicle market.

...continue reading