TOKYO (Reuters). Japan has announced that it will stop the shipping of gold to Russia in response to Ukraine’s invasion, the Ministry of Finance said Tuesday.

Russia-bound precious metal was banned by Prime Minister Fumio Kishhida, whose resolve to place additional sanctions on Russia is reflected in the pledge made at the last week’s G7 summit of leading leaders.

From April 5, export restrictions will apply to luxury vehicles, jewels, cosmetics and liquor.

Japan’s action comes shortly after Britain, the United States, and Canada took steps to reduce gold-related transactions.

Britain amended its sanctions guidance Friday to state that British entities could not help Moscow sell their gold reserves. However, the U.S. Treasury Department had stated that Russia-related gold transactions may be sanctionable by U.S. officials a day earlier.

As the rule changes take effect on April 5, officials from the government stated that Russia would need to approve any gold exports.

In addition to the restrictions placed on Russia’s high-tech exports of semiconductors and communications equipment, this latest ban also applies.

Kishida announced that he plans to revoil Russia’s status as the most favoured nation trading. This could result in higher tariffs for its imports as well as an embargo on some imports from Russia.

Japan has already frozen more than 100 Russian assets and plans to extend financial regulation to Japan’s crypto-currency exchanges.

Tokyo is careful in its approach to Russia’s energy supply. Tokyo emphasizes the strategic significance of Russian oil and gas projects, which are held by both the Japanese government and Japanese companies.