Japan Sanctions Garantex Amid Ongoing Russian Sanctions
Japan has imposed new sanctions on Russia, including its cryptocurrency exchange Garantex. The exchange is now subject to payment and capital controls under Japan's foreign exchange law. This move follows a Cabinet decision on sanctions connected to Russia and the war in Ukraine.
Garantex was previously sanctioned by the US Treasury in April 2022 for allegedly facilitating money laundering and sanctions evasion activities. In August 2025, the US re-designated Garantex under cyber sanctions authorities, estimating that more than $100 million in transactions since 2019 were connected to illicit activity.
The European Union also placed Garantex under sanctions in February 2025, subjecting it to an asset freeze and barring EU citizens and companies from making funds available to it. US authorities seized three domains used by the exchange on March 6, 2025.
Japan's new sanctions package extends beyond financial restrictions, introducing export prohibitions covering four specific entities located outside Russia and Belarus. The package also applies to 35 vessels, with providing services requiring permission and money loans facing similar controls.