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Japan to freeze assets of four more Russian banks from April 2 -Breaking


© Reuters. FILE PHOTO: Shunichi Suzuki, Japan’s Olympics Minister, speaks during a Tokyo news conference on August 3, 2017. REUTERS/Kim Kyung-Hoon

By Tetsushi Kajimoto

TOKYO, Reuters – Japan will block the assets of four more Russian banks, Shunichi Suzuki, the Finance Minister, said Thursday. This brings the total to seven countries that Tokyo has imposed such sanctions.

According to a Ministry of Finance document, Fumio Kishida, Prime Minister, approved the Cabinet’s decision to freeze VTB Bank, Sovcombank Novikombank and Otkritie assets.

A ministry official stated that the government will freeze the bank assets, which are all closely linked to the Russian government.

Asset freezes can also be applied to dozens of people, including President of Belarus Aleksandr Lukashenko.

Suzuki, a member of the Group of Seven advanced nation’s Suzuki said that Japan will implement sanctions “together with other G7 members”.

This decision was made in response to Tuesday’s government announcement that assets of Russia’s state-owned Promsvyazbank (and Vnesheconombank) would be frozen.

Tokyo’s ban on the banking sector will be complete with the addition the four banks that the European Union had withdrawn from SWIFT, Japanese officials confirmed to reporters.

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