Japan bans the export of luxury cars and other luxury products to Russia

On March 29, in a statement, Japan’s Ministry of Economy, Trade and Industry said that the country will ban the export of luxury goods to Russia from April 5, the latest response to Russia’s deployment Special operations related to Ukraine.

The ministry said items banned from export to Russia include luxury cars, motorcycles, alcohol, cosmetics, fashion items and works of art.

The move is intended to increase pressure on those who are financially supporting Russia. The United States and European Union member states have implemented similar measures.

Japan’s Economy, Trade and Industry Minister, Koichi Hagiuda, said at a press conference that the country will coordinate with the international community, including the Group of leading developed industries (G7). ), enforce tough sanctions.

According to Japanese government data, cars account for a large proportion of exports from this country to Russia, with a total value of 627.8 billion yen ($5 billion) in 2020.

Along with the US and European countries, Japan has revoked the most favored nation status with Russia under which Russia will enjoy the most favorable trade terms for key goods under the provisions of the EU. World Trade Organization.

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