Japan Freezes Garantex Assets, Targets Russia's Shadow Fleet
Japan has added Garantex, a cryptocurrency exchange, to its asset-freeze list as part of an expanded package of sanctions targeting 33 organizations and nine individuals over Russia's war in Ukraine.
The measures restrict payments and capital transactions involving designated parties, requiring government permission under the Foreign Exchange and Foreign Trade Act for transactions involving deposits, trusts, and loan agreements.
The restrictions followed a Cabinet decision on October 2 and add Japan to the jurisdictions taking financial action against Garantex, which has already been sanctioned by the United States, European Union, and other jurisdictions over allegations that the exchange facilitated sanctions evasion.
Japan also designated 35 vessels associated with Russia's so-called shadow fleet, which are used to transport Russian oil and are viewed by authorities as part of efforts to circumvent international sanctions.