Kishida announces more sanctions against Russia

Japan will impose additional sanctions targeting Russia following its invasion of Ukraine, Prime Minister Fumio Kishida said Friday, joining the United States and Europe in piling pressure on Moscow.
Speaking at a press conference, Kishida said the new package of sanctions include export controls on semiconductors and other products, a freeze on assets held by Russian financial institutions, and a suspension of visa issuance for certain Russian individuals and entities.
The announcement came hours after leaders from the Group of Seven nations condemned Russia and pledged to take "severe and coordinated" economic and financial sanctions in response to its "completely unjustified" attack.
"It is an extremely serious situation with ramifications for the international order, not just in Europe but Asia and beyond," Kishida said. "Japan needs to show its resolve not to allow any change to the status quo by force."
Kishida said the sanctions are the results of close coordination with the United States and European nations, and symbolize "the strength of unity" in efforts to prevent a further escalation.
Japan unveiled the first set of sanctions against Russia on Wednesday, including a ban in the country on the issuance and trading of new Russian sovereign bonds.
The Ukraine crisis has rocked financial markets, sending crude oil prices sharply higher as Russia is a major energy supplier.
Kishida said the government will take steps to minimize the negative impact of the invasion on the Japanese economy.
Japan has been locked in a territorial dispute with Russia for decades with no post-World War II peace treaty signed.
Asked about the potential impact on peace treaty talks between Japan and Russia, Kishida refrained from comment.

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