Japan has imposed sanctions on the Russian cryptocurrency exchange Garantex, which was included in a new list of organizations subject to asset freezing on 2 October, alongside nine individuals and restrictions covering 35 vessels.
Japan's Ministry of Foreign Affairs stated that these measures were introduced under the Foreign Exchange and Foreign Trade Act following a Cabinet decision on sanctions related to Russia and the war in Ukraine. Government permission is now required to make payments and certain capital transactions with the companies on the list.
The ministry's official annex lists the company Garantex Europe OU, with Garantex listed as an alias. The document provides addresses in St. Petersburg and Moscow, including in the Vostochnaya Federatsiya building in Moscow City.
Japan imposes payment and capital movement controls on Garantex
Under the measures adopted on 2 October, payments to 33 organizations and nine individuals are subject to a permit system. Japan applies a similar requirement to capital transactions, including deposits, trusts and cash loans involving the designated parties.
The government describes these measures as an asset freeze, but the notice does not disclose the value of any assets linked to Garantex and located in Japan. It does not identify cryptocurrency wallets connected to Garantex, nor does it state what amount of digital assets has been frozen.
Garantex is the only cryptocurrency exchange mentioned in the annex to the latest list of Russian organizations. In the Japanese list, the company appears under its official name Garantex Europe OU, as well as under its commonly known name Garantex.
The sanctions package goes beyond financial restrictions. Japan introduced export bans covering four specific enterprises located outside Russia and Belarus, and announced additional restrictions on goods that could contribute to the development of Russia's industrial capacity.
A separate part of the package applies to 35 vessels. Providing services designated by Japan's Ministry of Finance now requires a permit, and loans and debt guarantees related to the sale, purchase, lease or chartering of vessels are subject to similar controls.
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