Japan Adds Garantex to Sanctions List Amid Russia Crypto Crackdown

Japan has added Garantex, a Russian cryptocurrency exchange, to its asset-freeze list as part of a new sanctions package targeting Russia. This move extends international restrictions on the platform, which has already faced enforcement actions from the United States and European Union.

The sanctions package, announced on October 2, covers 33 Russian entities and nine individuals. Payments to listed parties and certain capital transactions with them will now require Japanese government permission under the country's Foreign Exchange and Foreign Trade Act.

Japan also designated 35 vessels as part of measures targeting maritime services and financing linked to Russia's oil trade. The government said the package was adopted in response to the continuing war in Ukraine and in coordination with sanctions imposed by other major economies.