Japan Sanctions Cryptocurrency Exchange Garantex Amid Russia Crackdown

The Japanese government has expanded its sanctions against Russia by adding cryptocurrency exchange Garantex to a new set of measures aimed at disrupting Russian financial activity tied to the war in Ukraine.

The move is part of an asset-freeze framework designed to restrict payments and other capital transactions involving designated parties, including 33 organizations and nine individuals connected to Russia.

The government also targeted 35 vessels associated with the 'shadow fleet,' which is used to move Russian oil while evading existing sanctions.

Garantex has already faced sanctions in other jurisdictions, including the US and EU, for facilitating efforts by Russian entities to evade financial restrictions.