Japan announced on Friday a significant escalation in sanctions against Russia, targeting dozens of individuals and entities involved in the ongoing Ukraine conflict.

The measures include asset freezes and export bans, aimed at curbing Russia's military capabilities and sanction-circumventing activities.

The new asset freeze list now includes 11 Russian executives, one North Korean individual, and encompasses 29 military-related groups, along with three Russian banks and one Georgian bank, all accused of aiding Moscow in evading sanctions. The assets of these entities will be frozen starting February 9, according to Japan's Foreign Ministry.

In addition to the asset freezes, Japan has imposed export bans on 22 Russian companies with military affiliations, and extended these restrictions to 31 non-Russian entities accused of facilitating sanctions evasion. These foreign companies are located in Hong Kong (11), Turkey (8), mainland China (7), Kyrgyzstan (2), Thailand (1), the United Arab Emirates (1), and Kazakhstan (1). The export bans will be effective from January 17 to January 23, as stated by Japan's Ministry of Economy, Trade and Industry.

Japan also expanded its list of export-restricted goods to Russia, now totaling 335 items. This list includes motorcycles, acoustic equipment, construction vehicle engines, and cranes, with the new export prohibitions coming into effect on January 23.

These actions underline Japan's commitment to the G7's collective strategy to "starve Russia of G7 technology, industrial equipment and services that support its war machine." Previously, Japan had already implemented asset freezes on Russian individuals and groups, banned exports of goods to Russia's military sectors, and restricted the export of construction and engineering services.

This move by Tokyo reflects a broader international effort to tighten the economic noose around Russia in response to its invasion of Ukraine. (ILKHA)