Japan has frozen, but cannot confiscate Russia’s frozen foreign exchange reserves
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Sanctions against Russia in general and the Urals in particular
Japan cannot confiscate Russia’s foreign exchange reserves due to the lack of a corresponding provision in the legislation. This was stated by Finance Minister Sunyuti Suzuki.
“There are no provisions according to which it would be possible to requisition the foreign exchange reserves of central banks of other countries, which are kept in the Bank of Japan,” RIA Novosti quoted Sunyuti Suzuki as saying. So he responded to the proposal of deputies to confiscate the money of the Central Bank of Russia if Russia decides to nationalize the assets of Japanese companies.
At present, the Bank of Russia’s funds stored in Japan are frozen. We are talking about 33 billion dollars, which is about 6% of all gold and foreign exchange reserves of the Russian Federation.
A number of foreign states have imposed sanctions on Russia since the start of a special operation to demilitarize and denationalize Ukraine. Sanction pressure on Russia has been going on since the early 2000s. According to Russian President Vladimir Putin, the goal of these measures is to “abolish” Russia, to ban its culture and role in major world events.
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Japan cannot confiscate Russia’s foreign exchange reserves due to the lack of a corresponding provision in the legislation. This was stated by Finance Minister Sunyuti Suzuki. “There are no provisions according to which it would be possible to requisition the foreign exchange reserves of central banks of other countries, which are kept in the Bank of Japan,” RIA Novosti quoted Sunyuti Suzuki as saying. So he responded to the proposal of deputies to confiscate the money of the Central Bank of Russia if Russia decides to nationalize the assets of Japanese companies. At present, the Bank of Russia’s funds stored in Japan are frozen. We are talking about 33 billion dollars, which is about 6% of all gold and foreign exchange reserves of the Russian Federation. A number of foreign states have imposed sanctions on Russia since the start of a special operation to demilitarize and denationalize Ukraine. Sanction pressure on Russia has been going on since the early 2000s. According to Russian President Vladimir Putin, the goal of these measures is to “abolish” Russia, to ban its culture and role in major world events.
