Japan expands sanctions on Russia and adds Garantex

Japan has expanded its sanctions against Russia by adding crypto exchange Garantex to its assetfreeze list, according to a joint statement from the country’s foreign, finance and trade ministries. The move is part of Tokyo’s response to Russia’s war in Ukraine. Officials also targeted dozens of organizations and individuals linked to Russia, along with 35 vessels described as part of the country’s shadow fleet. The new measures restrict payments, capital transactions, and certain services for the listed entities and ships, including repairs and insurance. Japan said the sanctions are intended to curb Russia’s oil revenue. Garantex had already been sanctioned by the US, the EU and other jurisdictions over allegations that it helped Russian entities bypass financial restrictions.