Japan Sanctions Garantex and 'Shadow Fleet' in Expanded Russia Crackdown
The Japanese government has expanded its sanctions against Russia by adding the cryptocurrency exchange Garantex to a new set of measures aimed at disrupting Russian financial activity tied to the war in Ukraine.
The update was announced in a joint statement released Friday by Japan's Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Economy, Trade and Industry.
Along with Garantex, the new package includes 33 organizations and nine individuals connected to Russia, with the changes focused on an asset-freeze framework designed to restrict payments and other capital transactions involving designated parties.
The government also targeted 35 vessels associated with the so-called 'shadow fleet,' which is used to move Russian oil while evading existing sanctions.