Japan, South Korea, Australia Announce New Russia Sanctions
South Korea, Australia and Japan have announced new sanctions measures on Russia following its assault on Ukraine. South Korea and Australia said Feb. 28 they are joining many other nations, including the U.S., the U.K. and the EU member states, by removing certain Russian banks from SWIFT, the global interbank messaging service. The South Korean government also announced a set of export controls over certain strategic goods to Russia, according to an unofficial translation, and Australia announced sanctions on the Central Bank of Russia, President Vladimir Putin and high-ranking government officials.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
Japan, which has already implemented two waves of restrictions against Russia, said that it will join the West in imposing sanctions on the Russian Central Bank, Prime Minister Fumio Kishida told reporters Feb. 28, Reuters reported. Kishida also announced restrictions on Belarusian individuals and entities including President Alexander Lukashenko, given Belarus' role in the invasion. Exports to Belarus also will be limited, Kishida said.