Japan to ban Russia-bound exports of luxury cars, goods from April 5 – Reuters.com

March 29, 2022 by No Comments

Plastic letters arranged to read “Sanctions” are placed in front of Russian flag colors in this illustration taken February 25, 2022. REUTERS/Dado Ruvic/Illustration

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TOKYO, March 29 (Reuters) – Japan will ban the export of high-end cars and other luxury goods to Russia in its latest response to the Russian invasion of Ukraine, the trade ministry said on Tuesday.

The partial ban on Russia-bound auto items, which account for more than half of Japan’s exports to Russia, came after Prime Minister Fumio Kishida made a commitment to place more sanctions on Russia at a Group of Seven summit last week.

The new items on the export control list, to take effect from April 5, span 19 categories, from cars worth more than 6 million yen ($48,630) to jewellery, watches, cosmetics, liquor and art priced at more than 40,000 yen, the Ministry of Economy, Trade and Industry said in a statement.

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Russia-bound exports of boat engines worth more than 1.3 million yen, motorcycles worth over 600,000 yen and grand pianos priced at more than 200,000 yen will also be banned, the ministry said.

Japan’s ban on luxury exports to Russia, first announced by Kishida on March 16, followed steps by the United States and European countries to impose sanctions on Russia for its invasion of Ukraine. Russia says it is carrying out “a special military operation” in its southern neighbour. read more

“In cooperation with the U.S. and the EU, …….

Source: https://www.reuters.com/business/autos-transportation/japan-ban-russia-bound-exports-luxury-cars-goods-april-5-2022-03-29/

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