Sanctions against Russia will continue to rise until a peace deal with Ukraine becomes clear, Japanese Commerce Minister Koichi Hagiuda told the NHK national broadcaster today, according to Bloomberg.
Together with other countries, Japan will consider what other measures can be taken to further contain the Russian economy, which has already been paralyzed by a wide range of trade and economic constraints, Hagiuda said.
The government has not restricted Japanese companies from continuing to operate in Russia, but the longer the war lasts, the more difficult it will be for them to continue operating there, he said.
The United States, the United Kingdom, the European Union and others have stepped up sanctions against Russia since its invasion of Ukraine on February 24.
In the last round, the US imposed sanctions on more than 400 people, including lawmakers and an adviser to Vladimir Putin. The United Kingdom has targeted Alfa-Bank JSC and diamond mining company Alrosa.
Source: Capital
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