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Japan imposed an embargo on gold imports from Russia


七月, 05 2022
watermark Economic news

Tokyo announced the prohibition on the import of gold from Russia in connection with the situation in Ukraine. In addition, from September 5, Japan will refuse to provide the Russian Federation with trust, accounting, auditing and consulting services. So far, the details of the import ban have not been determined, and the country's Ministry of Finance intends to announce them later.


The Japanese authorities also included in the sanctions list 57 citizens of the Russian Federation, as well as 5 persons, in their opinion, involved in the destabilization of the situation in eastern Ukraine. In addition, restrictive measures will affect six companies from Russia – JSC Concern VKO Almaz-Antey, the Strategic Culture Fund, as well as a number of information portals, including SouthFront and Inforos.


Japan also imposes a ban on the export of goods for 65 Russian organizations involved in aviation and shipbuilding, and 25 Belarusian companies. In total, since the beginning of the military invasion of Ukraine, about 800 Russians and Belarusians, as well as about 300 Russian companies, have been subject to Japanese sanctions.


The Japanese authorities agreed to impose an embargo on Russian gold with their counterparts from the G7 countries at a summit in Bavaria. The United States has already imposed a ban on imports of precious metals from Russia in an attempt to substantially reduce an important Russian export. It is worth noting that last year gold exports brought the Russian economy more than $15 billion.


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外汇本质上有高度的投机性和复杂性,可能并不适合所有投资者。 外汇交易可能会带来重大的收益或损失。 因此,建议您不要承担无法承受的损失。 在使用ForexMart提供的服务之前,请确认外汇交易相关联的风险。 必要时寻求独立的财务意见。请注意,过去的业绩和预测都不是未来结果的可靠指标。