Japan to freeze assets of three Belarusian banks as fresh sanctions measure

Japan to freeze assets of three Belarusian banks as fresh sanctions measure

12-Mar-2022 Intellasia |
Kyodo |
5:02 AM

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The government said Friday it will freeze the assets in Japan of three Belarusian banks as a fresh sanctions measure against Minsk, which has been helping Russia in its invasion of Ukraine.

The step, to be implemented April 10, came after the European Union decided to block the three banks Belagroprombank, Bank Dabrabyt, and the Development Bank of the Republic of Belarus from a key international payment network known as SWIFT.

By freezing the assets of the banks subject to the EU sanctions, Japan is seeking to cooperate with other countries to ensure the effectiveness of the punitive measures, which have also been taken against seven Russian banks.

Other than targeting banks, Japan has already joined the United States and European countries in freezing the assets of individuals, including Russian President Vladimir Putin and Belarusian President Alexander Lukashenko.

The government said it will also toughen export controls to prevent Russia and Belarus from boosting their military capabilities. It will prohibit from March 18 the export of semiconductors and telecommunication equipment to the two countries, while restricting exports of petroleum refineries to Russia.

Japanese exports to the Donetsk and Luhansk regions of Ukraine, which Russia formally recognised as independent, will be banned from March 18 as well.

US Ambassador to Japan Rahm Emanuel welcomed Japan’s additional sanctions on Belarus, saying in a statement, “We commend the (Prime minister Fumio) Kishida government’s decisive action… to impose maximum costs on the enablers of Russia’s reckless and illegal war on Ukraine.”

https://www.japantimes.co.jp/news/2022/03/11/national/japan-belarus-banks-sanctions/

Category: Japan

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This is not a CAPTIS article. Originally, it was published here.