Japan Imposes Sanctions Against Russia Targeting Groups Involved in Using Cryptocurrency Assets to Evade Financial Sanctions

According to Reference News citing Nikkei, the Japanese government has decided at a Cabinet meeting to impose additional sanctions on Russia. The government will in principle prohibit the provision of operational, maintenance, insurance, and financing services to 35 vessels in Russia’s “shadow fleet” that are secretly transporting crude oil to evade Western sanctions. In addition to measures targeting the shadow fleet, the Japanese government will also add 33 Russian military-related entities and nine individuals to its asset freeze list, including groups involved in using crypto assets (virtual currencies) to evade financial sanctions.