Japan has decided to expand a ban on vehicle exports to Russia from August 9 to encompass used cars, in line with sanctions by the Group of Seven nations amid Moscow’s war against Ukraine.
Beginning in April of last year, Japan already forbade the export of high-end vehicles to Russia worth more than ¥6 million ($43,000), and the most recent measure will also apply to new and used gasoline and diesel vehicles with engines larger than 1,900 cc, electric and hybrid vehicles, and tires for large vehicles.
Related: Russia is Now China’s #1 Export Destination
Japan’s exports to Russia reached 603.9 billion yen in 2022, a 30% decrease from the year before primarily due to sanctions imposed after the Russian invasion of Ukraine. More than half of the amount came from passenger cars, the majority of which were used. Japan’s Economy, Trade, and Industry Minister Yasutoshi Nishimura said during a news conference:
“In cooperation with the international community, including the G7 as well as relevant ministries and agencies, we would like to firmly carry out the measures.”
A total of 750 products, including iron and other metals, boilers, and fibers needed to support Russia’s industrial activity, were added to the export blacklist. According to the government, the newly banned goods made up around 20% of the total value of exports to Russia in 2021.
Related: Russia’s Car Market Could Fully Recover by 2030
After the G7 leaders decided to take action to restrict shipments of all commodities that could benefit its war effort at their summit in May, the United States and European nations strengthened their prohibitions on the export of vehicles to Russia.
A computer animation professional with over 23 years of industry experience having served in leading organizations, TV channels & production facilities in Pakistan. An avid car enthusiast and petrolhead with an affection to deliver quality content to help shape opinions. Formerly written for PakWheels as well as major publications including Dawn. Founder of CarSpiritPK.com
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