Japan adds Garantex to list of Russia sanctions over Ukraine war

The Japanese government has expanded its sanctions against Russia, citing the continuing war in Ukraine.These now include the Russian cryptocurrency exchange Garantex, under an asset freeze list that restricts payments and capital transactions with the targeted parties, according to a joint statement issued on Friday from Japan’s Ministry of Foreign Affairs, Ministry of Finance and Ministry of Economy, Trade and Industry.Garantex was previously sanctioned by the US, the EU and other jurisdictions for helping Russian entities evade financial restrictions.Japan added 33 organizations and nine individuals linked to Russia to its asset-freeze list. The new measures also target 35 vessels identified as part of the so-called “shadow fleet” that carries Russian oil and helps Moscow evade existing sanctions. The measures specifically restrict services including repairs and insurance to cover the designated vessels.Related: Sanctioned crypto exchange Garantex shifts millions as it reboots platformThrough the sanctions, Japan aims to help reduce Russia’s earnings from crude oil exports.Still, Cointelegraph reported in August 2025 that Garantex may already have had a contingency plan allowing...