Japan imposes sanctions on Russia, targeting groups using crypto assets to evade financial sanctions

PANews reported on October 6, citing Reference News, which cited The Nikkei, that the Japanese government decided at a cabinet meeting to impose additional sanctions on Russia. Japan in principle banned the provision of services such as operation, maintenance, insurance and financing to 35 vessels in Russia's "shadow fleet" that secretly transport crude oil to evade Western sanctions. In addition to the measures targeting the "shadow fleet," the Japanese government also newly added 33 Russian military-related entities and 9 individuals to its asset freeze list, including entities involved in using crypto assets (virtual currencies) to evade financial sanctions.