Japan Sanctions Garantex Amid Russia Crackdown

Japan has imposed new sanctions on Russia, adding the cryptocurrency exchange Garantex to an asset-freeze list alongside 32 other entities and nine individuals. The move is part of Japan's efforts to restrict payments and capital transactions with listed parties, which now require government permission under Japan's foreign exchange law.

The sanctions package also includes restrictions on 35 vessels, with service and financing requirements subject to a permission system. Existing vessel contracts signed before October 2 receive limited relief until November 1, 2026.

Garantrix has faced enforcement actions in the US and Europe, with the US Treasury's Office of Foreign Assets Control first sanctioning the exchange in April 2022. The agency estimated that more than $100 million in known Garantex transactions were linked to illicit actors and darknet markets.

The EU had placed Garantex under sanctions in February 2025 as part of its 16th package targeting Russia. The Council of the EU described Garantex as a Russia-based cryptocurrency exchange 'closely associated with EU-sanctioned Russian banks.'