Japanese sanctions against Sberbank and Alfa-Bank come into force

A package of Japanese sanctions against Russia due to the situation around Ukraine, concerning the freezing of the assets of Sberbank and Alfa-Bank, came into force on Thursday.

A ban for Japanese individuals and legal entities on new investments in Russia also comes into force. In particular, it concerns acquiring a stake in any Russian business in the amount of 10% or more. Loans with maturity date over one year away are also subject to a ban.

Japan has invested 61.2 bln yen ($470 mln) in Russia in 2021, according to the Japanese Ministry of Finance. Currently, Japanese companies that continue to operate in Russia face a number of challenges with supply chains and transactional issues.