FX.co ★ Japan bans exports of high-tech goods to Russia in latest sanctions

Japan, one of the world’s most technologically advanced countries, has imposed a ban on the exports of high-tech goods to Russia. The Ministry of Economy, Trade, and Industry announced the decision to halt its cooperation with Russia in this field.

Subject to the ban will be 14 items, including 3D printers, quantum computers, atomic force microscopes, petroleum refining catalysts, and semiconducting and electrically conductive polymers. In addition, new sanctions target over 130 Russian officials and 70 companies. Japan stands with the West and condemns Russia’s actions in Ukraine. Thus, Prime Minister Fumio Kishida backed up the decision of the Group of Seven (G7) to abandon oil supplies from Russia, despite the complexity of such a decision.

“Japan relies on imports for most of its energy resources, so this is a very difficult decision, but right now the unity of the G7 is more important than anything else,” Mr. Kishida said. “We have decided to take the step of banning imports of Russian oil in principle.” In March, Tokyo revoked Russia's “most favored nation” trade status, depriving it of all trade preferences.