Press Releases
Measures based on the Foreign Exchange and Foreign Trade Act regarding the situation surrounding Ukraine
February 28, 2023
In view of the current international situation over Ukraine, and for the purpose of contributing to the international efforts for achieving international peace aimed at a solution of the issue, in line with the measures taken by other major countries, the Government of Japan has introduced the following measures under the Foreign Exchange and Foreign Trade Act, based on the Cabinet Understanding of “Asset Freeze for individuals and entities of the Russian Federation and other measures as of February 28, 2023”.
- Contents of the measures
- (1) Asset Freeze measures
Measures (i) and (ii) will come into effect for individuals and entities of the Russian Federation (39 individuals and 73 entities) ; a specific bank of the Russian Federation (1 entity); and individuals of eastern and southern regions of Ukraine, who are considered to be directly involved in the purported “incorporation” by Russia (9 individuals) designated as subject to asset freeze measures by the Ministry of Foreign Affairs Notice (promulgated on February 28). - (i) Restriction on payment
A permission system will be applied to payments, etc. to individuals and entities designated by the Ministry of Foreign Affairs Notice. - (ii) Restriction on capital transactions
A permission system will be applied to capital transactions (i.e., contract of deposit, trust, and money loan) with the individuals and entities designated by the Ministry of Foreign Affairs Notice. - (Note) Asset freeze measures for the entity newly designated as the specific bank of the Russian Federation which is subject to asset freeze measures will be implemented from March 30, 2023.
- (2) Prohibition on exports to specific entities of the Russian Federation
Prohibition on exports to 21 entities designated by the Ministry of Foreign Affairs Notice (promulgated on February 28) as a specific entity of the Russian Federation will be introduced. - (3) Prohibition on exports to the Russian Federation of items which could contribute to the enhancement of Russian industrial capacities
Prohibition on exports to the Russian Federation of items which could contribute to the enhancement of Russian industrial capacities will be additionally introduced.
- List of individuals and entities subject to asset freeze measures and other measures
Reference:
- (Appendix 1) Individuals, entities and a specific bank of the Russian Federation subject to asset freeze measures and others (PDF)
- (Appendix 2) Individuals in eastern and southern regions of Ukraine, who are considered to be directly involved in the purported “incorporation” by Russia, subject to asset freeze measures and others (PDF)
- (Appendix 3) Specific entities of the Russian Federation subject to export-related prohibitions (PDF)