By Kantaro Komiya and Leika Kihara

TOKYO (Reuters), – Japan is revocation Russia’s status of most-favoured country trade as part of additional sanctions on Moscow in the wake of Ukraine’s invasion, Prime Minister Fumio Kirshida announced Wednesday.

Kishida indicated that Tokyo will increase its sanctions and expand the reach of asset freezes for Russian elites, as well ban imports of certain goods from the country.

Kishida stated that Russia’s invading of Ukraine was a historical atrocity during a press conference. “We are taking all necessary steps, including the imposition of sanctions on Russia.

These actions are consistent with the United States’ announcement of Friday that its allies would increase their economic pressure against Russia. It amounts to a fourth series sanctions for Russia following the February 24th invasion.

Russia refers to its Ukrainian action as “special operation” in disarming and “denazifying” Russia.

Kishida stated that Japan would also work with the other Group of Seven countries to stop Russia from taking loans from International Monetary Fund or other global lenders.

He did not specify what goods would be subject to tariff increases due to the cancellation of the most-favoured Status.

The Mainichi newspaper said that the new tariffs would increase for some seafood products, such as crab and sea urchins imported from Russia.

Government data shows that Russia imported 47.6% of the crab from Japan and 81% of sea-urchins in 2021.

Japan has already put sanctions on Russia-bound chips exports and high-tech equipment. It also placed sanctions on hundreds of Russian officials, bank executives, and business executives.