Japan to impose sanctions on Russia and restrict chip exports

Japan will impose additional sanctions on Russia, including restrictions on chip exports, Prime Minister Fumio Kishida announced on Friday.

"The Ukraine invasion by Russia is a serious issue affecting international order that includes not only Europe but also Asia," Kishida told reporters in a news conference.

Russia on Thursday launched a major invasion of Ukraine. Russia's attempts to "change the status quo by force," said Kishida, have been harshly criticized by the international community.

The new measures against Russian individuals and organizations that Kishida announced include freezing assets and halting the issuance of visas, plus financial sanctions including asset freezes targeting Russian financial institutions.

Japan will also impose sanctions on exports to Russian military-related organizations, items on restricted lists based on international agreements, and exports of semiconductors and other general-purpose products to Russia.

The announcement comes after leaders of the Group of Seven major economies held an emergency meeting via videoconference on Thursday in response to Russia's invasion of Ukraine. In a joint statement, they criticized the invasion as a "serious violation of international law" and said Russia will face "severe and coordinated economic and financial sanctions."

Kishida said the sanctions were determined after Japan closely exchanged information with the U.S., EU nations and other G-7 countries. "We can show the strength of the solidarity of the international community," said Kishida.

Addressing concerns over energy security, Kishida said the sanctions on Russia "will not directly impede energy supply" and stressed that "there is no immediate impact on a stable supply of energy," explaining that the public and private sectors have 240 days' worth of oil reserves and two to three weeks' worth of liquid natural gas reserves.

The invasion by a major power also has raised concerns over Taiwan. "It is important to send a message that we will not allow any attempt to change a status quo by force, by working together with the international community," Kishida said.