WuBlockchain
Japan announced new sanctions against Russia on October 2, adding 33 entities and nine individuals, including cryptocurrency exchange Garantex, to an asset freeze list. The measures restrict payments and capital transactions with those targeted.
Why it matters
Garantex had already been sanctioned by the United States, the European Union and other jurisdictions over allegations that it helped Russian entities evade financial sanctions. Japan's designation broadens the jurisdictions imposing restrictions on the exchange.
Market impact
Japan also introduced service and financing restrictions on 35 vessels in Russia's shadow fleet. The measures add pressure across both financial and maritime channels, though the announcement does not specify effects on crypto markets.
Frequently asked questions
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What restrictions does Japan's asset freeze impose on Garantex?
The freeze list restricts payments and capital transactions with designated parties, including Garantex.
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How many entities and individuals did Japan designate?
Japan designated 33 entities and nine individuals in the new sanctions round.
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Which other jurisdictions had sanctioned Garantex?
The United States, the European Union and other jurisdictions had previously sanctioned Garantex.
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What allegations had been made against Garantex?
Garantex had been sanctioned over allegations that it helped Russian entities evade financial sanctions.
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What other restrictions did Japan announce alongside the asset freezes?
Japan introduced service and financing restrictions targeting 35 vessels in Russia's shadow fleet.
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