Japan has imposed sanctions on a Bengaluru-based Indian technology company, along with at least nine other firms from various countries, for allegedly helping Russia evade punitive economic measures. The Japanese Foreign Ministry announced these actions, which include asset freezes and export bans.
In addition to the Indian company, the sanctions target firms from China, Kazakhstan, Uzbekistan, and the United Arab Emirates. These measures are part of a broader effort by Japan and its allies to enforce strict economic sanctions against Russia following its invasion of Ukraine.
The Japanese Foreign Ministry stated that these punitive actions are implemented under the Foreign Exchange and Foreign Trade Act. The ministry specifically named the Indian company among those facing sanctions from the Japanese government.
Last week, Japanese Prime Minister Fumio Kishida, speaking at the G7 summit in Italy, emphasized his government’s commitment to sanctioning companies and groups that assist Russia in evading economic sanctions. The G7, consisting of major Western economies, has imposed a series of punitive measures against Russia, including asset freezes, to pressure the country over its actions in Ukraine.
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These sanctions are part of a coordinated international effort to isolate Russia economically and diplomatically. Japan has already targeted several Russian companies with punitive measures, reinforcing its stance against the invasion of Ukraine.
The latest sanctions highlight Japan’s determination to crack down on entities that undermine the effectiveness of the economic measures aimed at Russia. By targeting firms across multiple countries, Japan aims to close any loopholes that Russia might exploit to circumvent the sanctions. This move is expected to strengthen the overall impact of the international sanctions regime against Russia.
-Agencies
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