 "Japan sanctions 54 Russian companies ahead of US' expected levies on oil firms and ship insurers")
Japan imposed sanctions on 11 individuals and 54 companies in Russia and dozens of companies in other countries, according to a cabinet decision announced Friday (January 10).
The measures include export restrictions on 22 military-related organisations in Russia, targeting technology and machinery makers. Similar restrictions will be applied to 18 companies in China, one in the United Arab Emirates, one in Kazakhstan, two in Kyrgyzstan, one in Thailand, and eight in Turkey. Japan also ordered the freezing of assets belonging to a North Korean individual and Georgia’s MRB Bank.
Among those targeted by the asset freezes are Vladimir Artyakov, the first deputy director general at Russian state-owned defense conglomerate Rostec, and Pavel Marinychev, head of Russian diamond producer Alrosa. Organizations such as NPO Mashinostroyeniya, Aleksin Chemical Plant, and CMRBank are also included in the sanctions list.
Chief Cabinet Secretary Yoshimasa Hayashi said the sanctions align with efforts by the Group of Seven (G7) nations to prevent Russia from circumventing sanctions through third countries. The measures also ban exports of materials that could bolster Russia’s industrial base.
US to announce sanctions soon
In a separate development, Reuters reported Friday that the United States plans to impose its harshest sanctions yet on Russia’s oil sector. Citing a purported US Treasury document circulating among traders, the report said the sanctions target about 180 vessels, dozens of traders, two major oil companies, and several top Russian oil executives.
The US sanctions will reportedly include Russian oil majors Gazprom Neft and Surgutneftegaz, as well as ship insurers Ingosstrakh and Alfastrakhovanie, which provide coverage for many vessels delivering Russian oil to India, Moscow’s largest oil buyer.
Until now, the Biden administration has avoided imposing the strictest sanctions on Russian oil traders and shipping to prevent a spike in global oil prices. Reports of the new measures caused oil prices to approach $80 per barrel on Friday.
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